IPS-Nathan Lectures by Mr Piyush Gupta — Lecture III: "The Future of Finance: How Singapore can continue to punch above its weight"

Singapore’s Financial Sector: How did we arrive, how do we thrive? 
Singapore’s financial services have grown into a core pillar of the economy and a trusted global hub, underpinned by deliberate institution-building and long-term strategy. This lecture series traces Singapore’s evolution from the Asian Dollar Market and two-tier banking system to a diversified ecosystem spanning asset management, capital markets, commodities, wealth management, and insurance. It will also examine how digitalisation, new players, and technologies are reshaping Singapore’s financial system, as well as where and how money and financial assets moves, before looking ahead to the choices Singapore faces as it balances innovation with stability and trust. What lessons from the past remain salient? Where must we adapt to thrive in the next phase

The Future of Finance: How Singapore can continue to punch above its weight  
The concluding lecture looks ahead to the opportunities and trade-offs that will shape the next decade, including the inherent tension between investor protection and encouraging more appetite for risk. It then explores the changing nature of money — tokenised deposits, stablecoins, and central bank digital currencies — and the impact of the rise of agentic AI on banking and finance. Against rising geopolitical and technological flux, what role can Singapore play as a global financial hub? How do we maintain our relevance with the emergence of new financial hubs globally? 

To find out more about Mr Piyush Gupta, the 17th S R Nathan Fellow, click here.