The VeChain Foundation, CREAM, and Invest Cyprus have signed a Memorandum of Understanding (MoU) to collaborate on establishing a framework for blockchain technologies and related use cases. The focus of this partnership is to develop national-level investment strategies that promote blockchain technology, particularly in financial services. The agreement aims to facilitate economic development in Cyprus, ensure compliance with regulatory procedures like Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, and inform government policy-making in the blockchain industry. To achieve these goals, VeChain and CREAM will establish a joint venture in Cyprus dedicated to the development and implementation of blockchain solutions.