08 Dec FinTech Hub of Asia – Singapore
FinTech hub of Asia should be an easy guess – Singapore.
Investments in the FinTech industry understandably declined briefly during the pandemic but is soaring back globally.
According to TechCrunch, there is a large influx of investments for ventures focusing on FinTech with a rapid increase in number of deals and values of those deals. Asia, particularly, is making its presence known in this space as it leads the world in FinTech adoption rates.
Singapore, the right answer, is building a strong image as a bustling FinTech hub as it continues to attract large capitals.
According to KPMG, FinTech activity in Asia amounted to 7.5 Bil USD in the first half of 2021 and estimated of 6 Bil USD in the 3rd Quarter of 2021, closely following only the US.
With a total population of just about 5 million, Singapore is punching above its weight in total FinTech investments. According to the Chief FinTech Officer of the Monetary Authority of Singapore, Sopnendu Mohanty, Singapore’s total investment is expected to rise to a total of $3 Billion by the end of 2021.
Among counterparts in Asia, Singapore’s numbers are notably, and higher in comparison to the two most populated countries in APAC – China and India – that generated 1.3 Bil USD and 2 Bil USD respectively.
With an office in Singapore, NAOS International has been actively hiring leadership positions for FinTech companies throughout Asia for the last decade. Reach out to our Senior Consultants to learn more about how we can support your growth in Singapore and Asia.
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