Belgium And London To Work Together On FinTech

Belgium And London To Work Together On FinTech

Contrary to Brexit fears that have taken over Europe, Belgium is to build a bridge that supports FinTech start-ups between them and the UK.Finextr

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Contrary to Brexit fears that have taken over Europe, Belgium is to build a bridge that supports FinTech start-ups between them and the UK.

Finextra (finextra.com) reports that Belgium`s finance minister, Johan van Overtveldt has initiated talks with UK Fintech agency Innovate Finance on the establishment of a partnership between the two countries.

The Belgian government has also backed up the launch of B-Hive, a Fintech platform in which major banks, market infrastructure players and insurers will work closely with the local start-up ecosystem.

“The new platform is the result of a recommendation made by a high-level expert group on the future of finance in Belgium, which I put in place in 2015, and led by Johan Thijs, CEO of KBC Bank and Insurance Group.”, said Johan van Overtveldt in an interview with Finextra.

Belgium`s collaboration with London will promote the UK`s capital as an attractive financial and technology hub, a go-to place for Belgium growth companies.  In this way, Belgium can gain the leverage it needs to become an established FinTech country, wrote cryptocoinnews.com.

Also, London may benefit from this collaboration by retaining its leading position as a financial and technology hub in Europe.

“Brexit will not get in the way of fintech advancing in the UK and Europe,” says Lawrence Wintermeyer, CEO of Innovate Finance before Finextra. “Many continental fintechs continue to see London as an attractive destination and we are keen to support future collaborations for our members on the continent with B-Hive.”

Last October it was reported that venture capital funding in the UK fell by a third, wrote cryptocoinnews.com. Therefore, building close ties with Belgium comes just in time as a good solution to both countries` efforts to support FinTech technology.

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