Asian investment house Marvelstone Group is set to launch world’s largest fintech hub, named Lattice80, in Singapore’s Central Business District.
MarvelStone said that the 30,000 square foot hub will be an independent not-for-profit initiative that will allow fintech startups prototype, develop and expand their business models overseas.
Expected to launch in early November, Lattice80 will also support existing companies and financial institutions (FIs) in their adoption of innovations, and form public-private partnerships to develop new technology as well as financial infrastructure, the company added.
Marvelstone Group chairman Joe Seunghyun Cho said: "We think Singapore is the right place for a global Fintech Hub for a number of reasons. Singapore, being a traditional financial and trading hub, has the legal infrastructure and access to global investors that budding fintech companies would look for."
The move to set up the hub aligns aligns with the Singapore government's Smart Nation Vision that aims to offer people and businesses increased access to data and innovative ideas and solutions.
Marvelstone Group CEO Gina Heng said: "LATTICE80 aims to support the fintech ecosystem in Asia and bridge global players to the region. We have been working closely with MAS, who has made great strides in shaping the local fintech ecosystem.
“We also seek to bring partners onboard and collaborate with other Fintech hubs like London's Level 39, Australia's Stone & Chalk, and Israel's The Floor."