Singapore – At the Singapore FinTech Festival, Mr. Chia Der Jiun, the Managing Director of the Monetary Authority of Singapore (MAS), shared his insights on the future of FinTech and MAS’s strategic vision. During a fireside chat with broadcaster Manisha Tank, Mr. Chia highlighted MAS’s commitment to fostering a robust community, encouraging collaboration, and enhancing capabilities within Singapore’s FinTech ecosystem.

Addressing a global audience of innovators and regulators, Mr. Chia discussed MAS’s ambitious initiatives, including the launch of the Global FinTech Network (GFTN) and Project Nexus, aimed at streamlining cross-border payment systems through a central switch. These efforts are expected to improve interoperability, making digital payments more accessible and efficient across the ASEAN region.

Mr. Chia also emphasized MAS’s strategic focus on asset tokenization and artificial intelligence (AI). Under Project Guardian, MAS is exploring tokenized assets, which could reduce duplication and enhance security in financial transactions. In AI, MAS has formed Project MindForge to assess the risks of generative AI and develop industry best practices. Additionally, sustainability remains central to MAS’s agenda, with initiatives to upskill financial professionals and mandate climate-related disclosures to drive sustainable finance in the region.

MAS’s forward-thinking approach at the Singapore FinTech Festival underscores Singapore’s role as a leader in FinTech innovation, promoting a collaborative ecosystem to harness emerging technologies while supporting sustainable finance initiatives.