Singapore’s central bank and main financial regulator has committed 220 million Singapore dollars ($172.8 million) over three years to help strengthen the country’s well-developed FinTech sector.

The Monetary Authority of Singapore (MAS) announced on Monday that it is renewing its Financial Sector Technology and Innovation Scheme for the third time, dubbing it FSTI 4.0. It builds on the “strong foundation” of Singapore’s existing FinTech sector, which the bank said employs close to 10,000 professionals across more than 1,800 firms. Total investment in the sector hit 2.9 billion Singapore dollars ($2.27 billion) in 2025.

The latest iteration of the scheme is designed around four goals: to anchor and scale innovation in Singapore; to accelerate the development, adoption and deployment of financial technologies; to develop innovative technology infrastructure for the financial sector; and to support talent development and attraction for the country’s FinTech ecosystem.

FSTI 4.0 will be implemented through six tracks spanning institutional innovation, AI adoption, infrastructure and platforms, and talent development. Within these tracks, MAS has smaller internal goals, such as the support of at least 1,000 FinTech internships over the next three years and the founding of a scale-up grant for finalists at Singapore’s Global FinTech Hackcelerator.

The scheme is due to run until 2029 and is the fourth such programme organised by MAS. The first plan, beginning in 2015, ran for five years and aimed to establish a foundational ecosystem to build Singapore’s reputation as a leading FinTech hub. The second and third FSTIs, both running for three years, built on this framework and expanded the bank’s offerings.

Over the eleven years MAS has been offering financing through FSTI schemes, it has supported over 350 projects and established over 30 “centres of excellence”, according to the bank.

MAS is intimately involved with the FinTech sector through FSTI schemes and other projects, including the non-profit Global Finance & Technology Network that recently co-organised one of the largest FinTech conferences in Central Asia.

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