MAS Launches Global Fintech Network to Foster Innovation and Investment

The Monetary Authority of Singapore (MAS) launched the Global Finance & Technology Network (GFTN) to foster global fintech innovation and investment, with a focus on collaboration with India. GFTN aims for efficient financial ecosystems, with Sopnendu Mohanty set to become CEO in 2025.

The Monetary Authority of Singapore (MAS) has announced the creation of the Global Finance & Technology Network (GFTN), a new not-for-profit initiative designed to foster innovation and investment in fintech. The network will focus on partnerships in India, leveraging its status as a global tech hub.

Sopnendu Mohanty, currently the MAS's Chief FinTech Officer, will take the reins as CEO of GFTN in 2025. He emphasized India's significance in the global fintech landscape and the vast investment opportunities it presents.

GFTN aims to address the quick-changing needs of the fintech ecosystem through digital platforms, advisory services, and capital investments. Ravi Menon has been appointed as Chairman of the Board, with strong backing from industry leaders.

(With inputs from agencies.)