Singapore, 17 January 2024 — The FinTech Lab at the National University of Singapore’s (NUS) School of Computing has received a generous grant of US$1 million from global enterprise blockchain and crypto solutions provider Ripple’s University Blockchain Research Initiative (UBRI). The new funding will support FinTech Lab’s operations for the next two years and extend Ripple and NUS’ existing collaboration in promoting innovation and thought leadership in fintech.
Newswise — Established in November 2019, NUS FinTech Lab has evolved to become a strategic hub at the core of Singapore's vibrant fintech and business ecosystem, providing strategic dialogue and research-driven innovation. Through initiatives such as the FinTech Brew, a regular coffee chat series, the Lab brings the latest ideas and brightest minds together in an informal setting where students and business leaders meet to address and discuss the challenges facing the fintech sector. Additionally, the FinTech Lab’s regular podcast series extends its reach globally, providing both local and international audiences with valuable insights into its work.
Commitment to innovation and collaboration
Professor Tan Kian Lee, Dean of NUS School of Computing, emphasised the FinTech Lab's role in bridging theory and practice. He said, "This new phase of the NUS FinTech Lab symbolises our dedication to merging academic inquiry with practical industry solutions, fostering an ecosystem rich in innovation and impact."
“NUS joined UBRI’s roster of incredible global academic partners in 2019 and has been driving innovation at scale through the NUS FinTech Lab ever since. We’ve been extremely impressed with the work to come out of this partnership – NUS has excelled at supporting an extremely active student fintech society, launching a new EVM sidechain validator, and maintaining an XRPL validator – not to mention the UBRI-funded NUS FinTech SG Programme, an advanced professional certificate initiative with 200 graduates achieving full-time job offers in fintech and over 50,000 programme participants receiving training in fintech via webinars, festivals, community events and more,” said Eric van Miltenburg, Senior Vice President of Strategic Initiatives at Ripple. “We look forward to many more years of collaboration as Singapore and NUS continue to pave the way for digital asset innovation and cement the country’s status as one of the leading fintech hubs in the region.”
In line with the University and the School’s mission, the FinTech Lab actively supports innovation and research leadership in partnership with industry, collaborating with Ripple’s UBRI programme and other business partners to catalyse knowledge sharing and collaborative inquiry. It also inspires students and young researchers to take up the greatest challenges in today's digital economy through regular workshops, conferences, hackathons, and knowledge transfer partnerships.
Recognising the pivotal role of academic rigour in advancing the global fintech sector, and expressing appreciation for Ripple’s support, Professor Hahn Jungpil, Director of the NUS FinTech Lab, added, “The UBRI programme’s steadfast support is invaluable in our mission to blend rigorous academic research with real-time solutions to address critical industry challenges, leading to impactful advancements in financial technology.”
Looking ahead
Drawing on insights from the Singapore FinTech Festival – the world's largest gathering of fintech professionals, regulators and thought leaders – NUS FinTech Lab's agenda for the coming year will focus on the digital economy, digital assets and trusted AI and governance.
NUS FinTech Lab looks forward to engaging with many more business partners and policy-making institutions in months to come, as it embarks on the next exciting phase of development.
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About National University of Singapore (NUS)
The National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education, research and entrepreneurship, with a focus on Asian perspectives and expertise. We have 16 colleges, faculties and schools across three campuses in Singapore, with more than 40,000 students from 100 countries enriching our vibrant and diverse campus community. We have also established more than 20 NUS Overseas Colleges entrepreneurial hubs around the world.
Our multidisciplinary and real-world approach to education, research and entrepreneurship enables us to work closely with industry, governments and academia to address crucial and complex issues relevant to Asia and the world. Researchers in our faculties, research centres of excellence, corporate labs and more than 30 university-level research institutes focus on themes that include energy; environmental and urban sustainability; treatment and prevention of diseases; active ageing; advanced materials; risk management and resilience of financial systems; Asian studies; and Smart Nation capabilities such as artificial intelligence, data science, operations research and cybersecurity.
For more information on NUS, please visit nus.edu.sg.
About NUS FinTech Lab
NUS FinTech Lab is a convening hub for interdisciplinary dialogue with academia, fintech industry, policy makers and regulators. Our lab is dedicated to advancing thought leadership, catalysing innovative research, and education with a focus on areas such as digital payments, data privacy, trust and security, regulatory compliance, and financial inclusion.
For more information, please visit fintechlab.nus.edu.sg.
About Ripple
Ripple is the leader in enterprise blockchain and crypto solutions, transforming how the world moves, manages, tokenises and stores value. Ripple’s business solutions are faster, more transparent, and more cost effective - solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realising a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders. Ripple is a global leader in enterprise blockchain solutions, providing infrastructure for payments, settlements, and asset issuance. Ripple's solutions enable banks, payment providers, and digital asset exchanges to send and receive money globally, instantly, securely, and cost-effectively.
For more information, visit ripple.com.
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