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Singapore’s rise as world’s third-largest foreign exchange hub matters for its people
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Singapore’s ascent in global foreign exchange is testament to decades of deliberate strategy, technological ambition and disciplined market development.
PHOTO: ST FILE
Kelvin Cen
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SINGAPORE – When the Monetary Authority of Singapore (MAS) announced in October that Singapore had strengthened its position as the third-largest foreign exchange (FX) centre in the world, just behind London and New York, many Singaporeans may have seen the headlines and moved on. After all, people here are accustomed to being part of a small country used to punching well above its weight.
But from the perspective of one who sits at the intersection of technology and finance in this region, this is a significant achievement, well worth celebrating. Singapore’s ascent in global FX is no accident. It is testament to decades of deliberate strategy, technological ambition and disciplined market development.
