Cyprus Invest has announced the signing of a strategic agreement with VeChain (VEN) Foundation, bringing the platform close to mass adoption. Cyprus Invest is the national Investment partner of the Republic of Cyprus.
The partnership agreement (Memorandum of Understanding) is signed between VeChain Foundation, Cyprus Invest, and CREAM, a USA registered legal firm with expertise in strategically advising blockchain project and investments.
The MoU will make the three firms collaborate to expand more on blockchain technologies and its use cases. The partnership reflects a brighter future for digital age in Cyprus. Cream and VeChain will form the basis for the implementation and development of blockchain solutions in the country.
Aside that, they will be suggesting way out to Invest Cyprus while also saddled with the responsibility of reforming policies that will give blockchain the opportunity to be underlying infrastructure for financial services and operations in the country.
The three parties will come together to establish national level investment strategies that will make blockchain power the country’s economy
The collaboration will as well reflect the real-life utilization of blockchain technology in economic reform, investment and financial services, among other aspects where the technology can be of great service to the country.
Commenting on the collaboration, Michalis P. Michael, Chairman of Invest Cyprus said: “The plans unfolding in Cyprus should open the world to what is achievable by investing in new technologies. Invest Cyprus as a promoter of Cyprus Investment opportunities and advisor to the Government of Cyprus in the investments space, sees this technology as both transformational and fiscally restorative at the infrastructure level. We are investing in the development of the fintech, blockchain sector and we plan to be at the forefront so that we can facilitate investments and economic development in Cyprus and the region.”
In his word, the Co-Founder, and CEO of VeChain Sunny Lu said, “Just as the blockchain technology represents something much bigger than business and money, this partnership represents the true competency for global change embedding trust, transparency, and fairness to the core of our society. Along with our partners, we are excited to showcase the true value of blockchain as supplemental technology and as an infrastructure to the world.”
Jackson Fu, Co-Founder and Managing Partner of CREAM pointed that “Cyprus as a nation represents a wonderful opportunity to make trust and fairness commonplace in the next digital age,” adding that “as the first nation to fully support the development of the blockchain technology, along with our partners, we will assist the nation to attract projects and talents from around the world increasing the vivaciousness of development building an ecosystem out of blockchain technology. In turn, we will help blockchain related projects to find a home where they will be supported and protected by the law to create, develop and thrive.”
However, here are three hidden values that VeChain (VEN) Will Derive From Cyprus Partnership?
Makes VeChain Government Advisor
The latest partnership will make VeChain to be among those who see to technological reforms in Cyprus since the collaboration is between VeChain foundation and Cyprus Invest, an official investment advisor of the Republic of Cyprus.
While the scope of the partnership is extended, its initial scope contains the blockchainization in fields where the technology is not being felt before.
Beyond Asia, VeChain now has ground in Cyprus, and has the potential to jump into other countries from that end.
VeChain Part Of Single Largest Cooperation With Potential To Create Investment Opportunities For Cyprus
The latest partnership, according to available information, represents the single largest venture into blockchain technology.
It will in the same line be reforming policies for Cyprus in a transparent and fair manner. The reform will comply with KYC, EU policy and AML. With contributions from VeChain, Cyprus will grow economically and become a tech base in Europe.