Relex Development (Relex Real Estate JSC), a regional center for digital transformation, announced today that it will sign an agreement with the Belarusian Currency and Stock Exchange. The agreement will expand the exchange by creating a digital and conventional exchange using FinTech and InvestTech Relex initiatives. This historical systemic digital transformation event is designed to link modern digital techniques, initiatives, and technologies to the specific opportunities and interests of countries, territories, and cities.
“Our meeting with the Belarusian Currency and Stock Exchange plays an important role in preparing for a transition to a ‘Digital Belarus,'” said Oksana Lozytskaya, CEO of Relex Development. “Relex Belarus has taken the first steps by discussing the necessary procedures that will define the interactions between the Belarus Currency and Stock Exchange (BCSE) and Relex as the Regional Center for Digital Transformation (RCDT).”
The digital transformation of the stock exchange and other partners will facilitate more efficiency with investments. It will allow for a more governed investment flow between participating institutional investors and individual investors alike. This should bring greater transparency, as well as allow for ease of investments from both a traditional stock and a digital asset basis.
“All the old infrastructure of the country’s financial and economic mechanisms are due for a systemic change. This involves banks and individual deposits, securities and corporate bond market, as well as the construction of building new open modules with deeper integration than is currently the case. Furthermore, what is developed on an open-source basis in Belarus will be available for adoption in partner countries, acting as an independent entity node in their respective countries. A change of this magnitude has never been done before,” said Keith Hilden, Chairman and Founder of Relex.
Within the confines of this agreement, Relex will be listed on the BCSE, which will start the digital transformation on the exchange. Relex will then develop a plan for the digital transformation of the economy of the Republic of Belarus.