SINGAPORE - A new fintech hub opened its doors on Thursday (Nov 10) with hopes of encouraging growth in the industry.

Lattice80, as it is called, is at 80 Robinson Road and occupies two floors on level 8 and 9, with more than 30,000 square feet.

The not-for-profit initiative had MAS chairman and Deputy Prime Minister Tharman Shanmugaratnam as a guest of honour at the opening.

Speaking on the occassion, Mr Tharman said MAS was working with the venture capital industry to grow the funding landscape for start-ups in Singapore and the region.

More than 20 foreign and fintech firms and associations involved in various areas such as blockchain and trading systems have signed on to take up residence at Lattice80, which was called the world's largest fintech hub by Asian private investment group Marvelstone.

Lattice80 also has partnerships with financial and technology firms such as IBM, United Overseas Bank and KPMG, to provide solutions and services like API and cloud technology.