FINANCIAL SERVICES | Staff Reporter, Hong Kong

Singapore trumps Hong Kong as Asia's fintech hub

Thanks to its progressive regulatory regime.

According to Bloomberg, tax benefits, government help and easy access to regional markets led Joe Seunghyun Cho to choose Singapore as the headquarters for his six financial technology companies, rather than base them in the rival hub of Hong Kong or his native South Korea.

Interviews with fintech entrepreneurs and business consultants show that while Hong Kong is making strides to catch up, Singapore has the lead -- in part because its government was quicker in recognizing the industry’s potential.

Read Bloomberg's full report here.

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