In 20 19, Singapore continued to pursue the ambition of becoming the first smart country with a leading smart financial center in the world, established a partnership with international counterparts, launched nationwide initiatives to further develop and adopt cutting-edge technologies, and introduced new regulations to promote innovation. According to a study, financial technology companies in Singapore attracted a lot of money last year. From 2065438 to the first nine months of 2009, investment in financial technology soared by 69%, reaching $735 million. Compared with the same period last year, the number of IPO transactions decreased by nearly one third, from 133 to 94. This shows that with the growth of startup business and the maturity of the industry, investors have made more bets on fewer transactions.
Findexable, a ranking analysis company, rated Singapore as a financial technology leader in the Asia-Pacific region in its first report "Global Financial Technology Index City Ranking in 2020". Singapore ranks 4th among global cities, and is famous for its huge financial technology start-up ecosystem (39% of all financial technology enterprises in ASEAN are located in Singapore), accelerators, incubators, investors and activities, and financial technology-friendly rules.