The US City of Chicago is the latest entrant into the fintech race after it found a place for itself in the recent study published by Deloitte — one of the “Big Four” consulting firms. The inclusion of Chicago into the list of fintech hubs follows the city’s recent achievements in promoting fintech and blockchain businesses.
According to the report, Chicago has grown into an epicenter for all the fintech related activities happening in the entire Midwest, totaling over 20,000 financial institutions. Few other facts presented in the report state that over 6% of the region’s total workforce is involved in financial services businesses. The positive effect of governance is not discounted either as the fintech sector enjoys the government’s support as well.
Many Chicago-based companies are heavily invested in fintech which includes the development of blockchain solutions. CME Group Inc., one of the leading names in the financial sector is a prime example of such involvement. The company is working closely with the British Royal Mint to create a distributed ledger based gold trading platform. The platform, built along with AlphaPoint and BitGo recently entered trials.
In a recent news report about the gold trading platform, the Head
Read more ... source: NewsBTC USA
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