Singapore being one of the most liberal financial hubs, noticed that there’s a high demand in the Fintech space.
The senior parliamentary secretary for the Ministry of Trade and Industry, Low Lew Ling announced that Singapore would like to help in improving the state of Fintech space.
Singapore is a place where great ideas from anywhere in the world can be commercialized. By significantly reducing the time needed for grant of a fintech patent, our innovative enterprises will be able to compete effectively through their intellectual property and use these intellectual assets to scale up and enter the world’s market,” says Daren Tang
According to a study by Delloite, Singapore ranks first among the world’s fintech destinations and London being its top competitor.
This country is also known for giving chances to some businesses who already failed somewhere else.
“The Singapore fintech sector is growing rapidly. With innovation at its heart, a swifter patent application process will help companies come to market faster. The fintech fast track is an excellent initiative, and one that will support and aid in further growing our community,” said Chia Hock Lai, president of the Singapore Fintech Association.