World's largest fintech hub opens in Singapore

It eyes helping startups develop their business models.

Asian investment private group Marvelstone cut the ribbons for Lattice80, dubbed as the world's largest fintech hub. The 30,000 sqft. hub is located in the Central Business District, close to financial institutions, the stock exchange and regulators.

According to Marvelstone Chairperson Joe Seunghyun Cho Singapore has the what a global fintech hub needs to prosper.

"Singapore, being a traditional financial and trading hub, has the legal infrastructure and access to global investors that budding fintech companies would look for," Cho explained.

The launch was to help fintech startups prototype, develop and expand their business models overseas. It also aims to support existing companies and financial institutions in their adoption innovation.

More so, the move to establish Lattice80 is in line with the city-state'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.

"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," cho stated.