Lithuania is set to open a blockchain center in Vilnius next month. The Baltic nation is aiming to become the bridgehead for Singapore's blockchain industry into Europe.

The Baltic Republic is inaugurating a blockchain campus in the center of Vilnius next month. The center will foster blockchain start-ups while sharing information about new technology opportunities with investors and businesses alike.

The launch is meant to unite Europe, Asia, and Australia's distributed ledger efforts, and in particular offer burgeoning fintech hub Singapore a foothold in Europe. «Singapore is a natural gateway to Asia for European investors. Lithuania is positioning itself as a gateway to Europe for Asian partners looking for opportunities in blockchain driven technologies,» the center's chairman Paulius Kuncinas said in a statement.

Way Into Europe

The move is a further sign of Lithuania's attempts to grab fintech business off of London following last year's decision to leave the European Union. An early adopter to financial technology, Lithuania is part of the 28-member European Union's single market.

Singapore inked a fintech tie-up with the Baltic state at November's fintech festival, and Lithuania recently sent a high-level delegation to the city-state to foster ties. The Vilnius blockchain center has drawn interest from NEM foundation head Lon Wong, who visited last month.