Singapore could Replace London as a Global Hub for FinTech

The decision-making centers of London, Hong Kong, Singapore, Silicon Valley and New York attract dynamic entrepreneurs. Around them, young companies and global innovation centers are agitated. After the Brexit, it seems that the British FinTechs recorded a decrease of one third of the investment volume. On the other hand, China is attracting more and more investment. In total, out of 27 FinTech unicorns around the world, 14 are installed in the United States, 8 in China and 5 in the rest of the world.

No region can compete with China with its BAT team (Baidu, Alibaba and Tencent) – which is the equivalent of GAFA. In addition, the national regulatory environment is one of the most welcoming for entrepreneurs around the world, not to mention Hong Kong where regulatory testing for FinTech has just begun.

In China, innovation is spreading in a number of sectors and consumers are increasingly looking to use technology and cash in the community, which explains the high levels of investment in FinTech.

Singapore is one of the gateways to the Asian financial market with a rich FinTech ecosystem. The Monetary Authority of Singapore is one of the most innovative international financial authorities in FinTech regulation, in innovation for risk management, in improving efficiency and in the competitiveness of the financial sector. Singapore urged banks and regulators in the country to keep abreast of Blockchain’s technological developments.

Singapore is a leading international financial center in FinTech and Singapore can offer better access to new markets in China, India and Indonesia than central London. See also

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