Singapore is well-recognized as the top Fintech hub in Asia. Receiving solid support from the government of Singapore, the small country has hosted an annual Fintech event and according to a public statement, participation in the annual Singapore Fintech Festival topped 66,000 participants this year, easily beating 62,000 participants in 2022.
According to the Monetary Authority of Singapore (MAS), participants from 115 countries traveled to Singapore for the event.
Importantly, more than 2,400 government and regulatory attendees across 530 central banks, regulatory institutions, and other government organizations participated in the Fintech event.
From the government’s side, MAS, the financial regulator for Singapore, leads the charge. Topics of interest supported by MAS include digital payments, CBDCs, Digital Assets (Crypto), a regulatory sandbox, and more. MAS reports more than USD $4.1 billion invested in Fintechs in 2022 and more than 1300 active Fintech firms.