The Australian government, headed by Prime Minister Malcolm Turnbull, is providing a boost to the country’s fintech sector. According to an announcement made in Shanghai, China, during a visit to Asia by the Treasurer of Australia, Honorable Scott Morrison, the government will be providing $150,000 in funds to the Stone & Chalk FinTech Asia program.

A non-profit initiative, Sydney based Stone & Chalk is a technology hub created to focus exclusively on cultivating Australia’s fintech eco-system. Like other technology hubs around the world, Stone & Chalk includes programs for startups and partnerships with established financial players.

Backing the new FinTech Asia program, the initiative was created to help Australian fintech firms promote themselves and develop relationships in the Asia Pacific region. As part of the program, Stone & Chalk is targeting startups, corporate partners, venture capitalists and investors to participate and boost the initiative.

Source: Finance Magnates