VeChain Foundation has inked a collaboration with Grant Thornton Cyprus in a move that will see the two-scale blockchain solutions to various industries. According to the medium blog announcement by VeChain, this partnership comes as a significant boost to its blockchain services, given Grant Thornton’s position as a leading global professional consultancy and accounting firm. The announcement reads,

“This partnership aims to pair and utilize VeChain’s advanced blockchain solutions for various industries among the network of Grant Thornton Cyprus clients.”

Notably, Grant Thornton Cyprus made a debut in professional blockchain services as early as September 2018, leveraging its network to feature over 135 countries. With structures already in place, VeChain will be working with the firm’s blockchain services wing to provide solutions both locally and internationally as more businesses seek value in distributed ledgers.

The two entities will be targeting a diverse market, which includes finance, health, entertainment, e-commerce, renewable energy, and supply chain management industries.

To function effectively, Grant Thornton will leverage VeChain’s ToolChain, which operates as a BaaS platform with a set of blockchain-oriented solutions. The Director of Grant Thornton Cyprus, Alexis Nicolaou, noted that VeChain would be instrumental in meeting client needs as Cyprus considers legislation around blockchain,

“The extensive range of applications that VeChain ToolChain offers will help us in meeting those needs most effectively and efficiently.”

VeChain’s Co-founder and CEO, Sunny Lu, also expressed optimism in this partnership. In his opinion, the COVID-19 pandemic changed the dynamics of globalization hence the need to advance digital post-pandemic solutions. Lu said,

“We are dedicated to exploring more business scenarios with our partner Grant Thornton Blockchain Cyprus and are excited with what’s to come as a result of this partnership.”

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