Li Guoquan, a professor at the Singapore University of Social Sciences: Singapore is not against encryption, but wants to become a builder of compliant underlying payment settlements

Foresight News reported on the spot that Li Guoquan, dean of the Global Financial Technology Institute and professor at the Singapore University of Social Sciences, said in a speech titled "From the Wild West to the Garden City: Singapore's Web3 Order Revolution" at the 2025 Shanghai Blockchain International Week that the "BLOOM" plan launched by the Monetary Authority of Singapore aims to promote the construction of encrypted AI financial infrastructure in Singapore as a global financial center. The infrastructure will support the use of regulatory-compliant settlement assets such as tokenized commercial bank currencies and stablecoins. Singapore is a "risk-averse system builder" rather than "anti-crypto". Compared with Hong Kong, which focuses on building a compliant virtual asset trading and financing center, Singapore focuses on building underlying payment and settlement infrastructure.

Singapore's "low-key" and "strictness" are not conservative, but an abandonment of short-term speculation. This move may inhibit grassroots innovation and the participation of small and medium-sized enterprises, but it provides a "credible certification" for the industry, attracting large financial institutions, sovereign funds, and multinational capabilities that can bring long-term stable value and solve trillion-level cross-border wholesale settlements. Singapore is building an "operating environment" for innovation that can be accepted and trusted by the world.

Professor Li Guoquan said that Singapore will support "responsible innovation" including DePIN, ReFi, public product financing, real-world assets, etc., and said that only by combining talents with responsible innovation can we truly promote the trust and acceptance of Web3 in the mainstream market.

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