Lattice80 launches fintech accelerator in Hong Kong

The not-for-profit operation will encompass a fintech hub as well as a blockchain-focused accelerator that will aim to support a United Nations sustainability initiative. It is also being positioned as potential support infrastructure for China's One Belt One Road Initiative.

"Fintech in Hong Kong has much growth potential compared to the size of its finance industry," Joe Seunghyun Cho, co-founder of Lattice80, said in a statement. "I believe Hong Kong will be a leader in fintech in Asia for the next 1-2 years and the right place to bring the best fintech innovations embraced in China to the outside of the world."

Lattice80 claims to be the world's largest fintech hub, connecting start-ups, financial institutions, government organizations, and corporates. It aims to develop community-driven ecosystems that bring financial innovation to existing markets and reach out to unbanked and underbanked people, as well as small to medium-sized enterprises.

Earlier this year, Lattice80 partnered with fintech accelerator SuperCharge to improve networking between the Hong Kong and Singaporean ecosystems. Lattice80 established a 30,000-square-foot co-working space close to Singapore's central business district in 2016 with backing from local private investment group Marvelstone.

Marvelstone CEO Gina Heng said that Lattice80's Hong Kong unit would be located within a 20-minute drive of Shenzhen. She described China as the best case-study in bringing fintech to an emerging economy, noting that 70% of the world's population was still living on less than 10 dollars a day and that legacy banking systems were not catering to this market.

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• Topics
• Greater China
• Financials
• Technology
• Early-stage
• Hong Kong (China)
• Financial Services
• Venture
• seed