FSTI 3.0 — Quantum Track

FSTI Quantum Track — onwards

Supports Singapore quantum and cyber security pilots through MAS-backed innovation programmes.

The FSTI Quantum Track is a dedicated funding stream within the Monetary Authority of Singapore's Financial Sector Technology and Innovation (FSTI 3.0) scheme, established in July 2024. MAS earmarked up to S$100 million jointly for quantum and artificial intelligence capabilities in Singapore's financial sector. The track operates on a rolling basis, accepting applications year-round via fintech_office@mas.gov.sg at least three months before a project's commencement date. It addresses four thematic sub-tracks: Technology Centres, Technology Innovation, Security pilots (PQC/QKD), and Talent Development.

The Technology Centres sub-track provides up to 50% co-funding on qualifying manpower and other expenses for 24 months to financial institutions and global technology companies establishing a quantum centre of excellence in Singapore; applicants must maintain a physical Singapore presence with a minimum of five qualifying quantum professionals, at least two of whom must be senior. The Technology Innovation sub-track extends the same 50% co-funding rate to Singapore-based financial institutions, professional associations, industry consortiums, academic institutions, and non-FI technology providers for exploratory and industry-wide quantum adoption projects, with industry-wide projects eligible for up to 36 months of expense co-funding. The Security sub-track funds post-quantum cryptography and quantum key distribution pilots at a 30% co-funding rate on all qualifying expenses, capped at SGD 200,000 per financial institution per pilot and limited to a maximum of three applications per applicant. The Talent Development sub-track is intended to build a quantum-aware culture within financial institutions, with curriculum details to be announced.

Applicants positioned to win are Singapore-domiciled entities with credible quantum use-case plans in financial services — either deploying production-grade quantum or PQC infrastructure or conducting structured research into quantum applications. The fund strongly favours projects with clear industry-wide impact or security-hardening rationale, given the financial sector framing. Proposals must be submitted at least 90 days before project start and must specify qualifying expenses across manpower, hardware, software, professional services, and intellectual property acquisition, as those are the reimbursable cost categories under the scheme.