The Monetary Authority of Singapore (MAS) announced the creation of the Global Finance & Technology Network (GFTN) to enhance Singapore’s status as a global FinTech hub and strengthen international connectivity for innovation in financial services. The GFTN aims to catalyse growth in Singapore’s FinTech ecosystem and foster collaboration with the global community, focusing on areas such as payments, asset tokenisation, artificial intelligence, and quantum computing. It will also assist MAS in expanding the Singapore Fintech Festival, positioning it as the premier global event in the sector. Ravi Menon, former MAS Managing Director and current Ambassador for Climate Action, will chair the GFTN board. Sopnendu Mohanty will become GFTN’s Group CEO in February 2025, with Kenneth Gay succeeding him as MAS’s Chief Fintech Officer.