-** A not-for-profit initiative led by Marvelstone Group **
-** LATTICE80 has been working closely with the Monetary Authority of Singapore (MAS) **
SINGAPORE, Sept. 21, 2016 /PRNewswire/ — Marvelstone Group is set to launch the world’s largest Fintech Hub (over 30,000 sq ft) in early November.
An independent not-for-profit initiative, its objectives are to:
- Help fintech startups prototype, develop and expand their business models overseas
- Support existing companies and financial institutions in their adoption of innovations
- Form public-private partnerships to further develop new tech and financial infrastructure
LATTICE80 is located in the Central Business District (CBD), close to the key financial institutions, stock exchange and the regulators – the same institutions that brought Singapore to its current position as the world’s third most competitive financial centre, after London and New York, according to a survey by London-based research firm Z/Yen Group.
Joe Seunghyun Cho, Chairman of Marvelstone Group commented, “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.”
“Plus, the time is right for innovation, and people are more receptive to the use of technology in financial services,” said Marvelstone Group CEO, Gina Heng. She added, “Singapore, as a regional hub can also connect us to fintech globally.”
“LATTICE80,” said Heng, “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.”
The move to establish LATTICE80 is in line with the Singapore Government’s overarching Smart Nation Vision, which is aimed at empowering people and businesses through increased access to data, innovative ideas and solutions, and utilising technology to better serve citizens’ needs.
Said Cho, “Singapore can be the best test bed for smart city solutions. Financial technology is one of the most important components of a Smart Nation, and can serve to power further innovation.