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<ul>
 <li>MAS injects SGD 150 million via FSTI 3.0 to boost innovation in the financial sector.</li>
 <li>Singapore fintech funding drops 41% in H1’23 according to KPMG report.</li>
 <li>FSTI 1.0 and 2.0 previously awarded $340 million.</li>
</ul>
In an exciting move to boost the financial sector, the <a href="https://coinedition.com/tag/mas/" rel="noopener noreferrer nofollow">Monetary Authority of Singapore (MAS)</a> has revealed its commitment to inject up to SGD 150 million over the next three years through the Financial Sector Technology and Innovation Scheme (FSTI 3.0).
The new wave of funding comes at an opportune time as both the global and Singapore fintech markets appear to have suffered in the first six months of 2023. According to the <a href="https://kpmg.com/sg/en/home/media/press-releases/2023/07/global-and-singapore-fintech-funding-reduced.html" target="_blank" rel="noopener noreferrer nofollow">KPMG Pulse of Fintech H1’23 report</a>, Singapore’s fintech funding fell to USD 934 million across 84 deals, marking a 41% decrease from USD 1.6 billion across 117 deals in H2’22.
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 The Monetary Authority of Singapore (MAS) will commit up to S$150 million over three years under the renewed Financial Sector Technology and Innovation Scheme (FSTI 3.0). Learn more about it here: <a href="https://t.co/tqZNBVQCIw" target="_blank" rel="noopener noreferrer nofollow">https://t.co/tqZNBVQCIw</a><a href="https://twitter.com/hashtag/MASNews?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#MASNews</a> <a href="https://twitter.com/hashtag/FSTI3?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FSTI3</a> <a href="https://twitter.com/hashtag/FinTech?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FinTech</a> <a href="https://twitter.com/hashtag/SGEconomy?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SGEconomy</a> <a href="https://t.co/NIAJF8I1kv" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/NIAJF8I1kv</a>— MAS (@MAS_sg) <a href="https://twitter.com/MAS_sg/status/1688515846174638081?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 7, 2023</a>
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This futuristic initiative, spearheaded by Depu…
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/mas-injects-sgd-150-million-to-revive-fintech-innovation-in-singapore/">MAS Injects SGD 150 Million to Revive Fintech Innovation in Singapore</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

MAS Injects SGD 150 Million to Revive Fintech Innovation in Singapore

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