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Singapore commits S$220 million to boost its fintech sector

Fintech 

  • Date: October 1, 2026
  • Zone: ASEAN-O
  • Country: Singapore
  • Sector: T&S
  • Sub-sector(s): Fintech
  • Format type: Brief
  • Section: Market Trends
  • Theme: Fintech 

 

Title: Singapore commits S$220 million to boost its fintech sector 

 

The Monetary Authority of Singapore (MAS) is once again backing its fintech sector with fresh funding. On August 31, the authority announced a commitment of S$220 million over three years, as part of the fourth edition of the Financial Sector Technology and Innovation Scheme (FSTI), launched in 2015 and which has already supported more than 350 projects. 

 

For Deputy Prime Minister and MAS Chairman Gan Kim Yong, the goal is clear: to capture the opportunities created by artificial intelligence and other frontier technologies, in a sector that already counts more than 1,800 fintech firms and close to 10,000 jobs in Singapore. In 2025, the sector attracted close to S$3 billion in investment. 

 

The scheme is structured around six tracks. The first, focused on talent, will for the first time see MAS co-fund fintech internships, with a target of at least 1,000 internship opportunities over three years, through a new dedicated portal, fintechinternships.sg. A second track supports the development of innovative solutions in AI, blockchain and quantum technologies. A third, dubbed "AI Pathfinder," aims to accelerate the adoption of market-ready AI solutions within financial institutions. These are complemented by a shared infrastructure track, a "centres of excellence" track to attract companies looking to test their innovations in Singapore (more than 30 already established), and a track dedicated to the MAS FinTech Awards, to strengthen the international profile of Singapore's financial hub. 

 

According to Gan Kim Yong, the goal is not only to compete with Hong Kong or other global financial centres, but also to lift the entire regional ecosystem: "It's not a zero-sum game." 

 

Source: "Sue-Ann Tan, 31/08/2026, The Straits Times" 
URL: https://www.straitstimes.com/business/companies-markets/mas-commits-220m-to-boost-financial-sector-technology-and-talent-over-three-years 

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