A newly launched fintech accelerator has coalesced in Zurich, Switzerland, after being co-founded by Daniel Gasteiger and Daniel Grassinger.

Daniel Gasteiger, the former UBS IT manager and real estate specialist Daniel Grassinger have jointly launched Nexussquared, with the accelerator’s initial focus being relegated to the application of blockchain technology to financial services business models. With the launch of the new accelerator, the two individuals aim to establish Switzerland as a nexus for fintech innovation.

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More specifically, the joint venture is presently embarking on a six-month build out to develop and foster a platform that will mentor and culture fintech startups with the fundamental aim of sparking development of international fintech businesses out of Switzerland. Nexussquared has previously released a statement that effectively outlines three possible future scenarios for Switzerland. The group sees Switzerland as a leading fintech location, a blockchain expertise center, or a next generation wealth management hub and a continental European fintech hub.

Switzerland is an interesting choice for the new launch site of the accelerator, given its recent ranking by the World Economic Forum’s competitiveness, which saw it as the leading destination for the seventh consecutive year. Alternatively, Singapore and the United States have ranked second and third, due in part to its deep financial services and technological background, stable political atmosphere, and methodical approach to growing innovation and talent.

Zurich presently already hosts an operational fintech incubator in the form of Polytech Ventures-funded Fusion – the venture was established back in February 2014, and has selected no less than ten startups to join its 12-month accelerator scheme.

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