Relex Crypto Platform Endorsed by Over $600M Vietnam Seaport Project

Asia Blockchain Review
June 18, 2019

Investment platform Relex recently announced it was endorsed by a US$637 million seaport development project which had been personally approved by Vietnam’s prime minister.

As reported by the Cryptonomist, investors include National Bank of Belarus, the Ministry of Finance of the Republic of Belarus, and the Governor of Vitebsk. They have invested US$220 million to finance the My Thuy International Port (MTIP), a commercial port which will serve the Dong Nam economic zone of Quang Tri.

New Financial Instruments Through Digital Technologies

The port will facilitate the transit of cargo ships from Laos and northeast Thailand to the east and west of the economic corridor.

Additionally, Relex was chosen to ensure the same funds and transparency that the company offers with its services. Owing to the platform and its model, the seaport explained in its official letter that Belarus set itself on course to implement new financial instruments through digital technologies and economies

The hope is that Relex and “the unique institutional status/position of its model in Belarus” would enable the port to provide the financing and legitimacy to protect the rights of investors.

Pushing for Greater Cryptocurrency and Blockchain Adoption

The Belarusian government is also using the investments to push for greater cryptocurrency and blockchain adoption.  In January, it launched the platform, which enables users to purchase shares, gold, and traditional assets directly with crypto.

Relex, which uses virtual assets, is one of the first platforms to implement the new digital economy through the use of crypto to invest in concrete projects. It also demonstrates that such investments are not only feasible, but can offer higher guarantees than more conventional development projects.


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
South Korean Mobile Service Provider Unveils Blockchain OS
Union Mobile, a major mobile service provider in South Korea, has recently unveiled its blockchain o...

September 22, 2019

UK, US Top List of Most Crypto Exchanges by Country followed by Hong Kong and Singapore
Blockchain analytics platform Crystal has revealed a breakdown of the countries with the most regist...

September 22, 2019

Thai Oil Major PTT to Create Renewable Energy Blockchain Platform
Thai energy giant PTT has partnered with Energy Web Foundation to launch a blockchain-based platform...

September 22, 2019

Five Privacy Coins to be Delisted at OKEx South Korea
The South Korean branch of OKEx has announced it will be delisting privacy coins including Dash and ...

September 21, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us