LATTICE80 opens Crypto Hub in Singapore

This followed the discontinuation of its Fintech Hub just this March.

LATTICE80 launched a new Crypto Hub in Singapore after it discontinued its Fintech Hub in the country. According to an announcement, it will be the largest hub of its kind so far.

The Crypto Hub will be on the lines of the Fintech Hub managed by the group. “LATTICE80 Crypto Hub will become the main facility in Singapore as the Fintech Hub is discontinued. LATTICE80 Fintech Hub will, however, continue to operate across other markets,” the group clarified.

LATTICE80 co-founder and founding CEO Joe Seunghyun Cho noted that despite their move to London, Singapore remains a “hotbed” for innovation and that they intend to be present in this market. “Over 30 Fintech spaces, a combination of hubs and innovation labs, exist in CBD as of today. With just around 400 Fintech startups in the country, we believe Fintech has sufficient grounds to grow and scale,” he said.

The group said that the change in strategy comes after “carefully looking” at the Singapore market. “Earlier plans involved expanding the Fintech Hub from 30,000 square feet to 100,000 square feet,” it added.

Cho also noted that what is missing, despite massive interest, is a balanced ecosystem for blockchain and crypto startups in the country. “In my regular interactions with various founders and other important people in the industry, a demand for the expertise LATTICE80 brought to Fintech is evident. The potential to collaborate, learn, and co-create needs to be addressed and it needs to addressed now. A place where startups can pitch and test their ideas daily with the community is required,” he added.

The group believes that through the FintechDB and its AI engine, investors and stakeholders will be able to understand the market better. “This is an exciting time and we shall share more about the Crypto Hub soon,” Cho concluded.