Investment bank UBS and accelerator Level39 have partnered to set up a programme aimed at developing innovative financial technology.

Switzerland-based investment bank UBS and UK-based accelerator Level39 have teamed up to establish an initiative targeting startups working on financial technology and cryptocurrency.

The accelerator, to be housed at the Level39 space in London’s financial district Canary Wharf, aims to strengthen UBS’s position in the blockchain ecosystem ­­and similar technologies. Blockchain is the algorithm governing transactions of cryptocurrency bitcoin.

UBS is particularly interested in technologies that could manage complex data and risk assessment in volatile markets. It will place a…