VeChain (VET) Inks Strategic Partnership Deal with Grant Thornton Cyprus

VeChain (VET) has announced the signing of a strategic partnership deal with Grant Thornton Cyprus. The alliance will enable the professional services network to take advantage of VeChain’s blockchain solutions to service the needs of its clients in various industries, according to a blog post on August 17, 2020.

Grant Thornton Adopts VeChain (VET)

VeChain (VET), a supply chain management-focused distributed ledger technology (DLT) project has attracted another new partner in Grant Thornton Cyprus, a leading professional services network.

As stated in its blog post, the partnership is aimed at enabling Grant Thornton Cyprus to use VeChain’s advanced blockchain solutions to service the needs of its clients in a vast array of industries, including logistics, automotive, pharmaceuticals and more.

Grant Thornton Cyprus reportedly joined forces with its member networks to roll out its blockchain service line earlier in September 2018 and with the new partnership with VeChain (VET), the firm says its blockchain department will work hand-in-hand with the former to integrate DLT into the processes of its clients.

Grant Thornton Exploring Blockchain Potential

At a time when enterprises in various sectors of the global economy are increasingly paying more attention to the burgeoning blockchain technology, Grant Thornton Cyprus says the establishment of its dedicated blockchain arm shows it believes in the potential of the innovative technology. 

The firm says DLT could significantly enhance the processes of firms in sectors such as supply chain, renewable energy, health, trade finance, and more.

Commenting on the VeChain-Grant Thornton Cyprus alliance, Sunny Lu, Co-Founder, and CEO of VeChain reiterated that the ravaging COVID-19 pandemic which has adversely affected the world economy has made it quite critical for enterprises to pay more attention to digitalization, and VeChain is always ready to lend a helping hand to its partners.

Alexis Nicolaou, Director of Distributed Ledger Technology at Grant Thornton Cyprus said:

“With the imminent introduction of blockchain legislation in Cyprus, Grant Thornton Cyprus is investing in partnerships with leading projects in the DLT industry, in order to meet the needs of its clients. The wide range of applications that VeChain ToolChain offers will enable us to meet those needs in an effective and efficient way.”

VeChain’s blockchain solutions continue to gain traction across industries.

On August 14, 2020, BTCManager reported that the VeChain-powered My Care COVID-19 infection risk management system was used by the Portsmouth International Port to verify is infection risk protocols.

At press time, the price of VeChain (VET) sits at $0.019708, with a market capitalization of $1.09 billion, as seen on CoinGecko.