New S$6m grant scheme to aid Singapore fintechs amid Covid-19

Assistance collectively rolled out by MAS, SFA and AMTD will help firms maintain operations and continue to grow

Published Wed, May 13, 2020 · 09:50 PM

Singapore

A NEW S$6 million grant scheme to support Singapore fintech firms has been collectively rolled out by the Monetary Authority of Singapore (MAS), the Singapore FinTech Association (SFA) and AMTD Group and AMTD Foundation (AMTD) on Wednesday, amid the challenging business climate due to the Covid-19 crisis.

The grant will help fintech firms in Singapore maintain their operations, and enable them to continue to innovate and grow. It complements the S$125 million support package announced by MAS on April 8 to sustain and strengthen capabilities in the financial services and fintech sectors, said MAS, SFA and AMTD in a joint statement.