Singapore’s PayNow and India’s UPI to Link in 2022
MAS and the Reserve Bank of India announced plans to link Singapore’s PayNow and India’s Unified Payments Interface (UPI) real-time payment systems by July 2022.
FinTech and Innovation
The financial sector is an integral part of Singapore's ambition to be a smart nation. Find out how MAS is creating a Smart Financial Centre through FinTech and innovation.
MAS has announced a $125 Million support package for the financial and FinTech sectors to deal with the immediate challenges from COVID-19 and position strongly for the recovery and future growth. MAS also launched a $6 Million MAS-SFA-AMTD FinTech Solidarity Grant to help Singapore-based FinTechs sustain operations, retain staff, and offset POC costs.
- List of initiatives for FinTechs
- Download infographic ($125 Million support package, 8 April 2020)
- Download infographic (1.72 MB) ($6 Million MAS-SFA-AMTD FinTech Solidarity Grant, 13 May 2020)
Singapore’s FinTech journey is about innovation, inclusion and inspiration. Everything we do in FinTech must always have a larger purpose – to improve the lives of individuals, to build a more dynamic economy, to promote a more inclusive society.
- Ravi Menon, Managing Director, MAS
Singapore FinTech Festival 2018 (2.61 MB)
Key Facts
40+
Innovation labs
1,000+
FinTech firms
S$1B+
Record-high FinTech investment in 2019
19% Y-o-Y increase
in FinTech investments for H1 2020
Singapore Innovation Landscape
Grants for Innovation
Get funding on proof-of-concepts, hiring, business development and more.
API Exchange
World’s first open architecture platform for financial institutions to easily discover FinTechs, quickly design prototypes and rapidly deploy solutions.
SGFinDex
World's first to use a national digital identity and centrally managed online consent system for secure access to financial data from private and public sectors.
Green FinTech
Understand the various initiatives for technology solutions and projects in Green Finance.
Project Ubin
An industry collaboration exploring the use of Blockchain and Distributed Ledger Technology (DLT) for Central Bank Digital Currency.
Singapore FinTech Festival
The world’s largest FinTech festival for the global FinTech community to connect, collaborate and co-create.
Regulatory Sandbox
Sandbox relaxes specific regulatory requirements to enable live experiments of innovation within boundaries.
Business sans Borders
A collaborative AI-driven global solutions hub to foster SME digitalisation.
E-Payments
Understand more about MAS’ payment initiatives like SGQR, FAST, PayNow and UPOS.
Singapore FinTech Ecosystem
What's New
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Keynote Address by Mr Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies, at the Official Launch of the Asian Institute of Digital Finance (AIDF) on 3 September 2021
Keynote Address by Mr Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies, at the Official Launch of the Asian Institute of Digital Finance (AIDF) on 3 September 2021
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MAS Announces 15 finalists for the Global CBDC Challenge; over 300 submissions from 50 countries received
The Monetary Authority of Singapore (MAS) announced today the 15 finalists for the global competition to develop retail Central Bank Digital Currency (CBDC) solutions (Global CBDC Challenge).
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Singapore FinTech Festival 2021 to take place from 8 to 12 November, with key focus on Web 3.0
The Singapore FinTech Festival (SFF) will take place from 8 to 12 November, as a hybrid digital and physical event. MAS has also set up Elevandi, a company limited by guarantee, to spearhead future growth of the SFF and lead a series of new initiatives to provide year-round engagement with the global FinTech community.
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BIS Innovation Hub and Monetary Authority of Singapore publish proposal for enhancing global real-time retail payments network connectivity
The Bank for International Settlements Innovation Hub Singapore Centre and MAS have published a proposed blueprint for enhancing global payments network connectivity via multilateral linkages of countries’ national retail payment systems.