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The government of Singapore has continued to give support in the form of financial incentives to Blockchain technology innovation in the country with several investments. The total amount of funding is not yet officially uncovered.

The Intellectual Property Office of Singapore announced a Fintech Fast Track initiative which allows startups of the sector to receive patents faster. From now on, it will take six months instead of two years.

Aditus successfully powers crypto-payments for fine art at South East Asia’s biggest art show Art Stage. Aditus’s role during the Fair is a natural progression towards bridging purveyors of Southeast Asian artworks with crypto-affluents. As part of the platform, Aditus Pay enabled visitors to purchase artworks on display using Aditus (ADI) tokens and other cryptocurrencies.

Singapore Airlines (SIA) has announced plans to use a blockchain-based airline loyalty digital wallet in six months in a statement on the official website of the company. A new KrisFlyer digital wallet app holding this innovative financial technology will possess a private blockchain that includes only merchants and partners.

R3, financial innovation firm, has announced its partnership with the Monetary Authority of Singapore (MAS) to launch its first dedicated distributed ledger technology Center of Excellence in Asia.

A new cryptocurrency backed by gold, named “Copernicus Gold”, is due to be launched in Singapore at the beginning of 2017.

The Monetary Authority of Singapore has recently published a “Proposed Activity-based Payments Framework and Establishment of a National Payments Council” paper, with recommendations to review the existing payments regulation in Singapore.

IBM announced its plans to work in collaboration with the government of Singapore to establish the first IBM Center for Blockchain Innovation.

BLOCKCON 2017, the first global Blockchain conference in Singapore, featuring Blockchain and cryptocurrency related innovation.