{"id":82740,"date":"2023-08-07T18:43:15","date_gmt":"2023-08-07T15:43:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82740"},"modified":"2025-09-12T06:54:34","modified_gmt":"2025-09-12T03:54:34","slug":"singapores-central-bank-to-allocate-over-110-million-to-support-fintech-solutions","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/singapores-central-bank-to-allocate-over-110-million-to-support-fintech-solutions\/","title":{"rendered":"Singapore&#8217;s central bank to allocate over $110 million to support fintech solutions"},"content":{"rendered":"<p>The Monetary Authority of Singapore (MAS) announced the allocation of up to 150 million SGD (about $112 million) to support innovation in financial technology, including <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a>.<\/p>\n<figure class=\\\"wp-block-image size-full\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-08-07-v-17.10.44.webp\\\" alt=\\\"Snimok-ekrana-2023-08-07-v-17.10.44\\\" class=\\\"wp-image-213139\\\"\/><figcaption class=\\\"wp-element-caption\\\">Data: <a href=\\\"https:\/\/twitter.com\/MAS_sg\/status\/1688515846174638081\\\">X<\/a>.<\/figcaption><\/figure>\n<p>The programme spans three years. The revised \\&#8221;Financial Sector Technology and Innovation Scheme\\&#8221; (FSTI 3.0) is aimed at accelerating and strengthening them by backing projects that employ cutting-edge technologies.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;MAS recognises the importance of partnering with industry players to support innovative fintech solutions based on new technologies, such as Web3,\\&#8221; the statement said.<\/p>\n<\/blockquote>\n<p>The regulator said the central bank would run open competitions and provide grant funding. FSTI 3.0 will also support projects in the field of artificial intelligence.<\/p>\n<p>Earlier MAS <a href=\"https:\/\/u1f987.com\/en\/news\/singapores-central-bank-reviews-tokenisation-and-defi-protocols\">presented a report<\/a> detailing work in partnership with <span data-descr=\\\"Bank for International Settlements\\\" class=\\\"old_tooltip\\\">BIS<\/span> on Project Guardian. The initiative is aimed at examining the alignment of tokenisation and DeFi with international standards.<\/p>\n<p>In the second quarter Web3 startups <a href=\"https:\/\/u1f987.com\/en\/news\/web3-investments-fall-76\">raised about $1.8 billion<\/a> in venture funding \u2014 a figure down 76% from the same period last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Monetary Authority of Singapore (MAS) announced up to 150 million SGD (about $112 million) to support innovations in financial technology, including Web3.<\/p>\n","protected":false},"author":1,"featured_media":82741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,946,1110],"class_list":["post-82740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-singapore","tag-web-3-0"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=82740"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82740\/revisions"}],"predecessor-version":[{"id":82742,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82740\/revisions\/82742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/82741"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=82740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=82740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=82740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}