According to CoinMeta, Singapore plans to invest approximately $173 million (S$220 million) over the next three years to support fintech and innovation in order to maintain its competitiveness with other competitive hubs, including Hong Kong, China. The Monetary Authority of Singapore (MAS) stated that the plan aims to support talent development, accelerate the development, adoption, and deployment of fintech, with a focus on cutting-edge technologies. Under this plan, MAS intends to support at least 1,000 internship positions and ensure that the financial industry is prepared for frontier technologies such as artificial intelligence.