Singapore’s Monetary Authority of Singapore (MAS) has collaborated with the National Research Foundation (NRF) to open a new office that will support fintech startups in Singapore.
Scheduled to open on 3 May 2016, the new office will serve as a one-stop virtual entity for matters related to fintech and to promote the country as a fintech hub, MAS said in a statement.
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The office will review and enhance fintech funding schemes across government agencies, identify loopholes and recommend strategies.
It will be jointly headed by MAS chief fintech officer Sopnendu Mohanty, and SG-Innovate CEO Steve Leonard.
Commenting on the new development, Mohanty said: "The FinTech Office will enable a whole-of-government approach to develop the FinTech ecosystem in Singapore and support MAS’ vision of fostering a Smart Financial Centre.
"Through the FinTech Office, MAS will be able to go beyond the financial industry to help nurture a wider FinTech ecosystem and engage the FinTech community more actively."
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