Intel’s Israeli fintech lab to focus on blockchain


Intel is searching for ways to collaborate effectively with Israeli start-ups after a rocky start to the year in the Middle Eastern nation.

Intel Corporation has entered into a partnership arrangement with Tel-Aviv based fintech hub, The Floor, which will see a new hub built in Israel focusing on blockchain and biometric applications.

“Intel brings a powerful multi-disciplinary approach that could help Israel become a global capital in the field of fintech,” said The Floor co-founder, Gil Devora.

The partnership launch will continue to develop the relationship between technological innovation and fintech acumen, with Intel in a firm position to demonstrate and display its own technology in the hub.

The collaboration comes off the back of a period of uncertainty in Israel in regard to Intel’s involvement in the country’s financial sectors, with widespread layoffs to its Jerusalem manufacturing base earlier this year.

Intel has now strategized a further 1000 jobs at its latest facility in order to capitalise on Israel’s growing fintech prowess.