Plug and Play, the world’s largest fintech innovation platform, has accepted 23 startups into its third programme. Among them five blockchain projects have been included in the list.
The Plug and Play FinTech platform selects 20-30 fintech-focused young companies twice a year to connect with potential investors or clients from the world of finance and investment banking. For the third round, Plug and Play’s venture team and their partners have chosen 23 startups out of 820 long-listed candidates. The five blockchain-focused projects are: Abra, mobile cryptocurrency remittance platform; BlockNotary, blockchain-based KYC identity verification platform; BlockSeer, a data science company focused on blockchain analytics and forensics; Skuchain, supply chain finance and inventory tracking company; and Token, digital currency issuance platform sponsored by banks.
During the three month programme selected startups will get mentorship sessions and receive assistance with “pilots, investments and even acquisitions.” According to the press-release, as a startup accelerator Plug and Play creates “an ecosystem connecting forward-thinking corporations and venture capitalists with startups that are developing technology that is defining the world of financial technology.” Plug and Play’s corporate partners and investors supporting the programme include Assurant, Banco Original, Bank of the West, BNP Paribas, Capital One, Credit Suisse, Deloitte, Deutsche Bank, Finstar Labs, Intuit, JCB, MUFG, Santander, Sumitomo, TD Bank, USAA and U.S. Bank.
At the end of the programme, all startups will have a chance to present their perfected innovative ideas at Plug and Play's FinTech, Retail, and Materials EXPO on 25 May 2016.