Premier David Burt announced the signing of another new memorandum of understanding with B-Seed Partners, FinHigh Capital, a South Korean fintech firm, and BFS Holdings, Ltd from Britain.
While making the announcement, Mr Burt said organisations had “indicated their desire to join with us in growing the fintech industry in Bermuda through the establishment of a fintech accelerator”.
The investment will be worth “up to $10 million”.
“Bermuda’s leadership in the development of a FinTech industry supported by a sound regulatory base is attracting the attention of the world,” said Mr Burt.
“This Government’s determination to produce the right framework for growth in this area has set a high standard. As I have said before, we promised to usher in an era of business development that, at its core, would diversify Bermuda’s economy and provide opportunities for Bermudians to be more than spectators to economic success.