Singaporean private investment group Marvelstone has announced the opening of a new fintech hub, set to be the largest in the world.
Set to open in November, the fintech hub for Marvelstone will cover more than 30,000 square feet, meaning it will secure the position as the world’s largest fintech centre point.
Marvelstone chairman, Joe Seunghyun Cho, said that Singapore was a logical choice to build the extensive hub, with the country in a solid legal and financial position to allow the hub to grow.
“Singapore is the right place for a global fintech hub for a number of reasons,” he said.
“A traditional financial trading hub has the legal infrastructure and access to global investors that budding fintech companies would look for.”
The hub, to be called Lattice80, will be a not-for-profit organisation located in the central business district (CBD), close to the stock exchange, regulators and key financial institutions.
Cho said that Lattice80 will help start-ups develop their business models, test prototypes, form partnerships and work with Singapore’s government.
“We have been working closely with the Monetary Authority of Singapore (MAS),” he said.
“We also seek to bring partners on board and collaborate with other fintech hubs.”