The Luxembourg House of Financial Technologies (LHoFT) and KOOPHUB, the regional Fintech Hub of EEMEA (Eastern Europe, Middle East, and Africa region) have signed a Memorandum of Understanding (MoU) aimed at fostering innovation and building bridges between the Grand Duchy and Turkey.
The two Fintech hubs will collaborate on a number of initiatives to benefit from each other's ecosystems, giving a further boost to the economic development of the region. This cooperation agreement, signed during the Istanbul Fintech Week on 4 April 2019, between KOOPHub and the LHoFT seeks to cement a strong bond between the two countries, valuing cooperation that is fundamental to promote Fintech across Europe and beyond.
Demet Zubeyiroglu, Co-Founder of KOOPHub explained: "Luxembourg is a global hub for financial services. Supporting this positioning, financial technologies landscape has become very instrumental thanks to efforts by the LHoFT. Through our collaboration, we wish to weigh on opportunities and convergences by developing joint programmes and activities."
Alex Panican, Head of Partnership & Ecosystem at the LHoFT, added: "Istanbul has always been a bridge between Europe, Middle East and Asia, therefore we see real synergies between our hubs as Luxembourg is becoming a fintech gateway to Western Europe. Moreover, we are always looking for new markets for our fintechs and the region looks very promising for Regtechs and Financial Inclusion projects."