Finalto, a financial services company, has announced its expansion into a new data center in Singapore.
This new addition will complement Finalto’s existing data centers in London and New York.
Singapore is a financial hub and a major data center hub in the region with over 70 operational centers.
In January, GreenGeeks, a web hosting platform, launched its newest data center location in Singapore.
To maintain its position as a major hub, Singapore has been in the forefront of improving its digital ecosystem. Just recently, the country launched new standards for data centers to support the growth of compute capacity while ensuring environmental sustainability.
Furthermore, Singapore is also embarking on a significant project called the Digital Connectivity Blueprint to enhance its internet and technology infrastructure. The country aims to reinforce its status as an open economy and highly connected hub in Asia by increasing the number of submarine cable landing facilities. The new submarine cable landing sites and green data centers will not only enhance the existing digital infrastructure but also provide capacity for innovative digital applications that require greater bandwidth.
According to Singapore’s Minister for Communications and Information Josephine Teo, the new Digital Connectivity Blueprint will reshape the country’s digital connectivity infrastructure within the next decade.
Teo also said that Singapore plans to double these facilities by 2033, enabling improved connectivity with Asia and the rest of the world. The project requires a $7.4 billion investment, primarily from the private sector. Additionally, Singapore intends to invest between $7.4 billion and $8.9 billion in environmentally sustainable data centers.