As chief fintech officer of the Monetary Authority of Singapore, Sopnendu Mohanty's team has come a long way in the past four years. One of the most iconic experiments has been Project Ubin, which started in November 2016 as an industry collaboration, to explore the use of distributed ledger technology for clearing and settlement. In addition to the existing regulatory sandbox regime, MAS is also exploring a so-called sandbox express – a fast-track regime – to complement its existing offering. The fintech ecosystem in Singapore has more than 500 fintech startups and over 30 innovation labs, which have been instrumental in driving collaboration between financial institutions and fintech startups.