The Monetary Authority of Singapore (MAS) has pledged to fund web3 technology.
The Asian region continues to be popular in crypto and blockchain. The Asian frenzy that broke out at the beginning of the year has been making progress lately. Singapore, one of the crypto markets in the Asian region, can make new breakthroughs.
Singapore’s regulatory agency, MAS, is preparing $150 million in funding under the Financial Sector Technology and Innovation Programme.
web3 step from Singapore
“MAS recognizes the importance of partnering with the industry to support innovative FinTech solutions stemming from emerging technologies such as Web 3.0,” the Monetary Authority of Singapore (MAS) said on its website.
MAS has committed $150 million over three years as part of the Finance Industry Technology and Innovation Program. It is stated that web3 technology is also included in this fund.
The regulator also said it will call for and grant funding for the use of innovative technologies in industry use cases.
MAS pointed out that Web3 is an emerging technology. In addition, MAS gave the message that it will stand behind such innovative technologies.
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