🎉Good news is coming! KPMG recently released a report showing that in the second half of 2023, the financing amount of Singapore’s artificial intelligence companies focusing on financial technology reached US$333 million, a year-on-year increase of 77%! 📈Despite the decline in global investment activity, Singapore's AI financial technology companies had a total of 24 investment transactions throughout the year, showing that investor confidence in this field remains strong. 💪

However, the overall financing volume of Singapore's fintech industry will be US$2.2 billion in 2023, a 68% decrease from the previous year, and the number of transactions has also been reduced by half to 189. The report analysis believes that high interest rates, continued inflation and geopolitical factors are the main reasons for the decline in investment activities. 😔

It is worth noting that investment and financing in Singapore’s cryptocurrency and insurtech fields also declined, with year-on-year decreases of 86% and 25% respectively. But cryptocurrencies remain the top focus for investors in Singapore’s fintech sector, which saw the highest number of transactions last year. 🔥So, although the market is overall neutral, we are still optimistic about Bitcoin! 💰