New partnership aims to boost Cyprus’s blockchain credentials

Invest Cyprus, Singapore-based VeChain Foundation and US startup CREAM have signed a MoU for collaboration in the blockchain space.

VeChain Foundation and CREAM will establish a joint entity in Cyprus focusing on the development and implementation of blockchain solutions. They will make suggestions to Invest Cyprus, including policy reform involving the technology as an underlying infrastructure for operations and financial services.

The three will work together to accomplish national level investment strategies. “The plans unfolding in Cyprus should open the world to what is achievable by investing in new technologies,” says Michalis P. Michael, Chairman of Invest Cyprus.

“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.”

“Just as 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,” comments Sunny Lu, Co-Founder, and CEO of VeChain.