Singapore Fintech Ecosystem

Overview

Export information for Canadian fintechs looking to launch and scale their business in Singapore

  • 39% of all fintechs in the ASEAN
  • Over 1,100 fintech companies
  • $1.2B in fintech funding (2019)
  • Host of world's largest annual fintech gathering

Details

Singapore is considered to be second to the UK as a leading global fintech hub, home to 1,100 fintech companies that comprise 39% of all fintechs in the ASEAN (Association of Southeast Asian Nations).

In 2019, Singapore set a new record of $1.2B invested in fintech startups, more than doubling the amount invested in 2018. A key contributor to this growth is the MAS (Monetary Authority of Singapore), who has set aside $225 million (US$165 million) to develop the sector over the next five years. MAS also hosts the annual Singapore Fintech Festival, the world’s largest fintech gathering attracting 45,000 participants from over 120 countries.

Key to all this is a regulatory approach that encourages experimentation while ensuring risk management safeguards are in place, and that any new regulations should be in response to material risks and be proportionate in magnitude.

Doing Business in Singapore

Visit the Trade Commissioner Service's guide for Canadian businesses who are exporting to Singapore

Fintech Laws and Regulations

This country-specific Q&A provides an overview to fintech laws and regulations that may occur in Singapore

Fintech and Innovation

Learn how the Monetary Authority of Singapore is creating a Smart Financial Centre through fintech and innovation

Connect with Global Fintech Investors

Fintech is transforming the way financial businesses operate, collaborate, and transact with customers, regulators, and others in the industry all over the world.

canadian fintech Export development project

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