Foundation will open the new hub that will serve as a central location of innovation for dedicated NEM representatives to engage with the community and help them understand blockchain technology and cryptocurrency.

NEM Foundation’s Australia and New Zealand lead Jian Chan said the hub was also a way to grow NEM’s ecosystem of partners and support start-ups who are interested in blockchain.

“The launch of NEM Blockchain in Melbourne is a strong sign of our commitment towards supporting innovation in Australia and the world,” said Mr Chan.

Mr Chan said NEM planned to open up similar hubs across the Asia-Pacific having already opening Brisbane and Wesport, New Zealand.

“We are excited by the opportunity for blockchain in Australia and are thrilled to be moving to the Victorian Innovation Hub as part of this initiative,” he added.

The hub will also become part of Stone & Chalk home in Melbourne CBD’s innovation precinct which currently includes CSIRO group Data61, LaunchVic, Sprout X and Medtech Actuator.

Stone & Chalk general manager Alan Tsen said he was proud to welcome NEM into the community.

“We are excited to include NEM as part of the Stone & Chalk community. Blockchain is an area of growth and we look forward to work together on initiatives to support the ecosystem here,” he said.