The SG$6 million ($3.44 million) grant can be used by local fintech companies to cover their daily working capital expenses and finance new product development work with financial institutions.

Fintech startups have been attracting a flood of investments since last year and the pandemic is accelerating the trend as more customers look to pay without contact.

Galileo, like many financial businesses from abroad, sees potential in this country’s market.

As the growing pandemic continues to plunder on, the Singapore Fintech Association (SFA) and Razer have teamed up to provide financial assistance to local Singaporean fintech companies.

Oriente will use the money to boost its growth in existing markets and further new developments in places like Vietnam. 

The partnership aims to address key issues facing the industry, including business continuity, lack of funding, and brand awareness.

To help financial institutions during this coronavirus crisis, fintechs stepped up to help with contactless person-to-person mobile payments.

The Central Bank of Argentina (BCRA) is testing a new blockchain-powered clearing system that could be used by some of the country's largest financial institutions.

Tucked into corners of grocery stores, gas stations and transit hubs, crypto ATMs are still allowed to operate amid the coronavirus contagion event. And some are thriving.

To help banks help their customers through these trying times, many fintech providers are extending free, discounted, or accelerated deployment offers to financial institutions.