MAS, Singapore’s regulatory agency, made a new announcement. According to this announcement, MAS gave the message that it supports Fintech innovation. The regulator will provide $150 million in funding for technological moves, including Web3.The Monetary Authority of Singapore (MAS) continues to stand behind technological innovations. Singapore’s regulator will offer strong funding for Web3 and similar innovations.
Announcing its support for innovations on its website, MAS used the following words;
“MAS recognizes the importance of partnering with the industry to support innovative FinTech solutions stemming from emerging technologies such as Web 3.0”
MAS will provide funding support through the Finance Sector Technology and Innovation Program to contribute to innovation stemming from emerging technologies such as Web3. This program has pledged to provide funding of up to S$150 million over three years.
In addition, MAS stated that it will make open calls to prioritize the industrial use of new technologies.
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