Two law companies in Singapore and Malaysia have launched fintech practices as the financial technology sector is gaining popularity in both countries
Two law companies in Singapore and Malaysia have launched fintech practices as the financial technology sector is gaining popularity in both countries.
Singapore-based company Allen & Glendhill and Malaysia-based company Rahmat Lim & Partners, which is also an associate of Allen & Glendhill, announced that they will start fintech practices in both countries.
The practices will work together to deal with financial regulatory, technology and intellectual property matters. The goal is to present legal solutions in a field that is challenging for traditional legal and regulatory boundaries, explained finews.asia.
The rise of FinTech Law Firms
More and more law practices start to focus on the fintech sector. Last November, the UK law firm Addleshaw Goddard reportedly offered free mentoring and legal advice to fintech start-ups through a new scheme worth up to 500,000 euro, as Legal Week (legalweek.com) and cryptocoinnews.com reported.
The selected applicants will take part in the scheme for a period of twelve months. The AG Elevate Scheme allows them to attend the law firm`s training and network events.
In August last year, Forbes (forbes.com) covered a story about international law firm Steptoe & Johnson. They have announced the expansion of its practice that aims to help blockchain companies.
“The blockchain, like the internet, is going to have an impact on just about every existing type of institution in the years ahead — both private sector and government.”, said partner Jason Weinstein as quoted by Forbes` article.
“So having a multidisciplinary blockchain practice puts the firm in the best possible position to help a wide variety of clients in a wide variety of industries prepare for that transition.”, Weinstein added.
“It’s a recognition that blockchain technology is not a separate thing that exists separate and apart from established industries and businesses.”, commented the other lead attorney of the blockchain practice and counsel at Steptoe, Alan Cohn, in an interview with Forbes.