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Startups

B2B fintech startups descend on Singapore

City-state lures foreign entrepreneurs with special visas and financial support

Chia Hock Lai, president of the Singapore FinTech Association. (Photo by Takashi Nakano)

SINGAPORE -- Singapore is striving to enhance its position as Southeast Asia's financial center particularly for financial technology companies, luring promising entrepreneurs from abroad with such programs as a special visa status and monetary support.

The island city-state has become a hub for business-to-business fintech companies seeking to operate globally, with their number increasing by 70% over the past year to more than 1,000. Singapore's experience could serve as a model for other cities wishing to become international financial centers.

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