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Cyprus will soon join the regional settlement circle of IBS in Europe

Date:Thu May,2016

On May 11, Nicos Anastasiades (President of Cyprus) met with Luo Feng (CEO of IZP) in Nicosia, the capital city of Cyprus. It was preliminary confirmed that Cyprus is to join the regional settlement circle of IBS in Europe, which will further promote the expansion of it in the European market and effectively promote the development of Sino-EU trade. 

Nicos Anastasiades said that Cyprus is prepared to join the regional settlement circle of IBS in Europe, in order to reduce the settlement costs of Sino-Cyprus trade and stimulate Chinese investors to further investment in Cyprus. He held that, compared with China's previous reform and opening up strategy which pays attention to the output of manufacturing industry, the One Belt and One Road strategy focus more on the output of capital, technology and business models. Cyprus will provide a series of facilities, such as investment, visa, etc. to attract enterprises like IZP to be the origin of force of the One Belt and One Road business.

As an important hub of the Mediterranean Sea and adjacent to Europe, the Middle East and North Africa, the geographical position of Cyprus is quite superior. Furthermore, it has abundant port resources. Thus, it is expected to play a role in the implementation of One Belt and One Road strategy.

As a global financial technology company under IZP, IBS is committed to the RMB's internationalization development, and by centering on the regional chain and big data technology, to build a decentralized, distributed, collective collaborative settlement network of the next generation, and, by orienting to the global market, especially the countries along "One Belt and One Road", to arrange the global financial liquidation and settlement network to provide international liquidation and settlement services for global trade and consumption. Currently, IBS has arranged top 5 regional settlement circles in Central Asia, Europe, Middle East, Africa and South Asia, which provide settlement services for cross-border trades and consumptions between China and these regions, countries of these regions or among these regions. 

Before then, IBS has connected to the TARGET 2 and SEPA systems of European Central Bank through Lithuanian Central Bank and established the regional settlement circle of Europe, which undertakes the Sino-EU trade and consumption, promotes the facilitation of Sino-EU trade settlement, provides real-time liquidation channels and on-demand financial products for trade enterprises, and provide consumers with the ubiquitously innovative payment.