S$6 Million Grant Scheme Available To Singapore FinTech Firms

Update

On 13 May 2020, the Monetary Authority of Singapore ("MAS"), the Singapore FinTech Association ("SFA") and the AMTD Group and AMTD Foundation (collectively, "AMTD") jointly launched the MAS-SFA-AMTD FinTech Solidarity Grant ("Grant") catered towards Singapore-based FinTech firms during this period of uncertain business landscape consequent upon the COVID-19 pandemic.

Valued at S$6 million, the Grant aims not just to help FinTech firms maintain their operations, but also to enable them to continue innovating and pursuing growth strategies. The Grant complements a S$125 million support package announced by the MAS on 8 April 2020 aimed at sustaining and strengthening capabilities in financial services and FinTech sectors in Singapore. The Grant comprises two components: