Singapore’s fintech industry continued its momentum in 2020 on the back of new regulations, fintech initiatives from regulators themselves and the introduction of the city state’s very first digital banks, according to the Singapore Fintech Report 2021 produced by Fintech News Singapore in partnership with Alibaba Cloud. The Singapore Fintech Report 2021, released in January 2021, which can be downloaded here, looks at the state of the fintech industry in Singapore, highlighting the key developments made in 2020 that are set to shape the industry for the year to come. The report indicated that 2020 was a fruitful year for Singapore’s fintech startups which continued to grow and attract funding. Fintech investment in Singapore reached US$346 million in 2020, representing 6.2% of all that was raised in Asia.