FinTech, which is at the forefront of current financial innovation, is set to improve existing financial services, like banking, insuring, and investing.
The Singapore-based venture capital company has launched a new fund in an effort to boost investments in the blockchain technology startups.
FinTech or Financial technology is a line of business based on using software to provide financial services. FinTech companies are generally startups founded with the purpose of disrupting incumbent financial systems and corporations that rely less on software.
The nascent financial technology industry has seen rapid growth over the last few years. Nearly all the major banks and financial services firms are either actively incubating or facilitating the development of startups and their technology in the FinTech space.
A recent Future of Money survey demonstrated that one in three Australians would prefer Bitcoin and other innovative financial technologies to their banks.