Singapore has been a major catalyst in spearheading financial revolution for quite a while. From major tech giants setting up regional head offices for Asia in the island nation to the rise in number of various innovation hubs and centres, the nation caters to the demand of emerging firms with its infrastructure and world-class facilities.
Yesterday another extensive development took place, Asian private investment group Marvelstone Group announced it is set to launch LATTICE80, world’s largest Fintech Hub in early November. The Hub will be spread over more than 30,000 square feet of land.
Located in Central Business District (CBD),LATTICE80 is touted as an independent non-profit initiative aims at helping fintech startups develop and expand their business models overseas. It plans to support existing companies and financial institutions in their adoption of innovations. It will also partner with public and private firms to further develop new tech and financial infrastructure.
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.
Joe Seunghyun Cho, Chairman of Marvelstone Group mentioned in a statement.
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.
Gina Heng, CEO, Marvelstone Group commented that this is the time is right for innovation, and people are more receptive to the use of technology in financial services. She added that Singapore as a regional hub will facilitate their global Fintech connections and the hub is focused to support the fintech ecosystem in Asia and bridge global players to the region. She also said,
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.
Cho believes the lion-city can be the best test bed for smart city solutions as financial technology is one of the most important components of a Smart Nation and can serve to power further innovation.
Headquartered in Singapore, Marvelstone Group seeks to be a cornerstone investor to bring forth positive development and social impact to local communities. With finance as its core strength, it also makes diversified investments in technology, real estate, infrastructure, energy and media.