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Singapore sees more investments pouring into financial technology firms this year as the city-state seeks to become a regional hub for capital raising in areas from payments to robo-advisory, according to a top central bank official.

Such investments have risen from around $20 million in 2014 to a record $1.1 billion last year, and more is expected this year, Sopnendu Mohanty, the Monetary Authority of Singapore’s (MAS) chief fintech officer, said in an interview.

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