Singapore announces expedited Patent application to grant process for Fintech applications

Photo Credit- ipos.gov.sg

The Intellectual Property Office of Singapore has announced that patents for fintech-related applications such as blockchain-based payments will now be granted within 6 months rather than the 2-year timeframe which is usual for normal applications.

At the 2018 World Intellectual Property Day which was attended by more than 200 participants among 191-member states across the world, Low Yen Ling, the senior parliamentary secretary for Ministry of Trade and Industry and Ministry of Education, announced this initiative.