Schemes and Initiatives
 Published Date: 18 July 2024

Quantum Computing Programme

To catalyse and support the advancement of quantum-related innovation and adoption in financial services, MAS has established a Quantum Computing Programme to partner ecosystem stakeholders to build capabilities in quantum technology, as well as explore opportunities for financial institutions and the broader financial sector to leverage the technology to address purposeful problem statements and enable use cases.
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Framework

MAS recognises that in order for Singapore’s financial services ecosystem to succeed in the quantum space, the industry would require enablers such as:

Clear regulatory guidelines

Read MAS’ advisory on addressing the cybersecurity risks associated with Quantum.

Establishment of strategic functions within the institution to drive related innovations and hire relevant experts

Opportunities to conduct technological explorations that address meaningful institutional/industry use cases

Ability to test and adopt quantum approaches that contribute to enhancing security

Availability of talent or relevant upskilling opportunities

Support

A Quantum Track will be established within the Financial Sector Technology & Innovation Scheme (FSTI 3.0), where MAS will earmark an additional S$100 million to support innovation in quantum and AI.

This track will consist of a suite of grants to support:

  1. Technology Centres

    Establishment of quantum computing and security innovation functions in Singapore

  2. Technology Innovation

    Strategic endeavours that explore the leveraging of quantum technology to address meaningful problem statements and enable industry and institutional use cases

  3. Security

    Acceleration of pilots that enhance cyber security

  4. Talent Development

    Talent development initiatives to encourage a quantum-curious culture within financial institutions.


For More Information

Please reach out to fintech_office@mas.gov.sg .