Regulated Digital Finance Poised to Boost Cyprus Economy, Says Expert

Regulated digital finance has the potential to become a new pillar of Cyprus' economy alongside tourism, shipping and professional services, creating more skilled jobs on the island, according to Stavros Vassiliades, COO and Executive Director at Payward Europe Digital Solutions (CY) Ltd.

Vassiliades discussed the opportunities and challenges in digital finance with the Cyprus Mail, addressing reader concerns about scams, licenses, and misconceptions surrounding crypto. He highlighted Kraken as one of the oldest and largest digital asset platforms, founded in 2011, with a CySEC-regulated Cypriot Investment Firm at its center.

Cyprus has signed a memorandum of understanding (MoU) on maritime cooperation with Bahrain, expanding ties across maritime safety, training, search and rescue, and innovation. The agreement covers areas such as maritime security, education, and the exchange of expertise and best practices.