Relex Investment Platform Gets Backing by Development Project, Additional Support from Belarus Authorities
- A seaport development project “endorsed” the Relex platform with $637 million.
- Now, Relex has formally requested promotional support from the Belarus National Bank and two other entities.
The cryptocurrency industry is constantly seeking ways to be welcomed into mainstream use. Relex, which is a crypto-friendly investment platform, recently helped to improve the market’s reputation, receiving support from a seaport development project with a $637 million endorsement. Now, Relex has collaborated with the My Thuy International Party, requesting additional support with the National Bank of Belarus, the Ministry of Finance of the Republic of Belarus, and the Governor of Vitebsk.
Ultimately, Relex is hoping to receive a promotional investment from these entities involving $220 million. The founder Keith Hilden himself signed these formal letters to request this investment, joining with My Thuy International Port Joint Venture Company.
The Prime Minster of Vietnam, Nguyen Xuan Phuc, already approved the development project, due to the request for Belarus investments. In the official letter, the company explained that they hoped to
“provide the financing and provide legitimacy to protect the rights of our investors.”
The CEO of Relex Balarus, Oksana Lozytskaya, is in charge of the entire project locally, though the MTIP wrote a Medium blog to explain how grateful they were for the actions of Relex. This is the first International project to commence within the Republic of Belarus, which includes the “digital economy” that was implemented with the crypto model.
It is clear that Belarus is making an effort to expose cryptocurrency assets prominently in their region. Belarus even allowed citizens to purchase shares, gold, and traditional assets with the launch of a platform that enabled payment via crypto. The project was led by two companies in the IT investment sector – VR Capital and Larnabel Ventures.