Switzerland-based investment bank UBS and UK-based accelerator Level39 have teamed up to establish an initiative targeting startups working on financial technology and cryptocurrency.
The accelerator, to be housed at the Level39 space in London’s financial district Canary Wharf, aims to strengthen UBS’s position in the blockchain ecosystem and similar technologies. Blockchain is the algorithm governing transactions of cryptocurrency bitcoin.
UBS is particularly interested in technologies that could manage complex data and risk assessment in volatile markets. It will place a dedicated team of experts in the lab to work with innovative startups.
Eric Van der Kleij, head of Level39, said: “The UBS team have already established their credentials at Level39 over the last two years through mentoring alongside other leading experts at various accelerator programmes.
“[UBS group chief information officer] Oliver Bussmann’s bold public statements and vision about the future of finance show that UBS is an organisation that is genuinely determined to transform and thrive in a new world of finance.”