The cryptocurrency ecosystem received a major validation in terms of adoption as it was announced that Relex, an investment platform which uses virtual assets, was “endorsed” by a massive $637 million seaport development project.
The investment platform joined hands with the My Thuy International Party family and formally requested the National Bank of Belarus, the Ministry of Finance of the Republic of Belarus, and the Governor of Vitebsk for additional support in the form of a $220 million promotional investment.
On May 30, Keith Hilden, the Founder of Relex, officially signed the letters requesting investment from Belarus in Ho Chi Minh City with the My Thuy International Port Joint Venture Company [MTIP], for the My Thuy International Port.
The development project was personally approved by Nguyen Xuan Phuc, the Prime of Minister of Vietnam for initiating the request for investment from Belarus.
The official letter stated,
“Thanks to Relex and its model we became aware that the Republic of Belarus has set itself on a course to implement new financial instruments through digital technologies and digital economies. We are hoping that Relex and the unique institutional status/position of its model in Belarus will allow us to provide the financing and provide legitimacy to protect the rights of our investors.”
Oksana Lozytskaya, Relex Belarus’s CEO, would be leading the digital investment proposals in Belarus. In the medium post, it was mentioned that the MTIP was very grateful of Relex’s actions for making the International port project, it’s first within the Republic of Belarus, which included the implementation of a new “digital economy” through the Relex crypto model.
The announcement suggested that Belarus’s effort to highlight the introduction of virtual assets was still very prominent. Earlier this year, the country launched a platform which allowed users to buy shares, gold, and other traditional assets with the help of crypto. The regulated tokenized securities exchange project was spearheaded by two IT-focused investment companies, VR Capital and Larnabel Ventures.