Singapore to host top fintech event in 2018

Singapore is set to host the first Asian edition of Money20/20, a global payments event.

The conference will be held in March next year at the Marina Bay Sands, the organisers announced this week. Money 20/20 dubs itself as the world's largest payments, and fintech event.

Philip Thomas, CEO of Ascential Events that runs Money 20/20, cited the Singapore government's innovative approach to fintech regulation and global partnerships. That Singapore is also ranked one of the top five fintech hubs in the world gives the city-state an edge.

"With a thriving fintech ecosystem and the infrastructure needed to enable us to deliver a world class event, Singapore is the perfect location for Money20/20 Asia," he said.

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The event expects to see more than 3,000 senior leaders in payments and financial services from across the Asia-Pacific and the world.

Sopnendu Mohanty, chief fintech officer of the Monetary Authority of Singapore (MAS), said in a media statement: "As a fintech thought leader, we are happy to have Money20/20, a premier event, inaugurate its Asia edition in Singapore. "Money20/20 Asia will add to the vibrancy of our fintech ecosystem in Singapore and the region, and we are confident that it will provide participants with quality content and opportunities for open collaboration and innovation."

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The attention on payments comes as payments make up about 40 per cent - or the largest share - of fintech investment deals.

MAS has driven buzz around the fintech business, having organised the world's largest fintech festival last year. It also said this week it would test blockchain technology on settlement in bond trading to make the process more efficient and focus on new methods to conduct cross-border payments using central bank digital currency.

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This article was first published on Mar 11, 2017.
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