When Singapore became independent a little more than 50 years
ago, the small and resource-poor developing country originally had
little chance of survival. Today, the city-state has risen to
become the economic hub of Asia, and is mentioned alongside other
financial centers such as New York, Hong Kong and Tokyo. Now its
financial sector is facing new challenges and rapid digital
progress, with technologies such as blockchain and 5G, which will
have an even greater impact on it in the foreseeable future.
Singapore's Fintech Sector
Financial technology, or Fintech, has experienced rapid growth
in recent years.
In addition to combining traditional financial services with
technological solutions, Fintech also unites e-commerce,
infrastructure service providers and telecommunications companies
under one roof. While investment in the Fintech sector in Asia
generally tended to decline, according to Fintech Global
statistics, investment in Singapore reached a new record
