Major financial institutions are looking closely at blockchain technology and some of them are even hiring additional blockchain experts to help them work on internal projects. Transforming the world of banking is slowly taking shape, and Citigroup is the latest party to join the hunt for FinTech innovators, more specifically in the Hong Kong area.
FinTech Focus In Asia-Pacific Region
In recent years, more and more FinTech incubators have popped up all over the world to attract the brightest minds in the world of financial technology. However, unlike what the general public might assume, these incubators are not all located in the US or Europe. In fact, most of them are situated in the Asia-Pacific region, which is proving to be a breeding ground for FinTech innovation.
Countries such as Singapore and Hong Kong are of particular interest to various corporations, due to the natural embrace of technological innovation. Additionally, most of the countries in the Asia-Pacific region are unbanked or underbanked, making them the perfect emerging markets to test new financial technologies.
Citigroup, one of the largest banking corporations to operate out of the United States, launched their own global initiative in the FinTech