Singapore has launched a new fintech center to boost its digital payments, tokenization, digital assets, and artificial intelligence (AI) efforts.
Known as the Global Finance & Technology Network (GFTN), it will incubate startups and catalyze the growth of the country’s fintech sector. It replaces Elevandi, a non-profit set up by the Monetary Authority of Singapore (MAS) to promote the growth of fintech in the Southeast Asian nation. Elevandi was the organizer of the popular Singapore Fintech Festival.
MAS established the Global Finance & Technology Network (GFTN) to further strengthen Singapore as a global FinTech hub and enhance global connectivity for impactful innovation in financial services. Find out more about GFTN: https://t.co/BhcI6qgFfG
— MAS (@MAS_sg) October 30, 2024
Despite being one of the smaller nations in Asia, Singapore’s fintech sector has been thriving for decades. In 2023, the sector was estimated at $35.2 billion and is projected to hit $63 billion by 2029. According to data…