The Monetary Authority of Singapore has published a comprehensive plan to make Singapore a leading international financial center - with plenty of allowances for FinTech companies to thrive, including accommodative blockchain policies.
Fintech could be bigger than ATMs, PayPal, and Bitcoin combined This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. The Monetary Authority of Singapore (MAS) has published an Industry Transformation Map (ITM) outlining its plan to cement the country's status as a leading global financial center in Asia. With technology increasingly transforming financial services, MAS believes it needs to facilitate the updating of the whole financial sector in order to stay relevant in a competitive global market. In particular, it aims to make Singapore a leading international wealth management hub, fund management and domiciliation hub, and global center for forex in Asia. In order to do this, Singapore wants to grow its financial sector by creating 3,000 financial services jobs and 1,000 fintech jobs.