NEM Blockchain Center to Open in Malaysia
The Singapore-based NEM.io Foundation, creators of the peer-to-peer NEM blockchain platform, has announced a strategic alliance with Blockchain Global of Australia. The partnership is aimed at expanding NEM’s reach while facilitating international mainstream adoption of blockchain technology.
The first initiative will be a Blockchain Center in Kuala Lumpur, Malaysia to serve as an incubator, accelerator, and coworking space. Scheduled to open in August 2017, the 10,000-square-foot Blockchain Center will house the NEM Blockchain Innovation Lab, a headquarters for research and development, as well as regional support for organizations interested in using the NEM platform within their IT infrastructures.
Later this year, NEM plans to work with Blockchain Global to develop a cryptocurrency exchange for the NEM ecosystem. Blockchain Global previously built ACX.io, Australia’s largest Bitcoin exchange by volume.
“We’re excited to partner with Blockchain Global in this rapidly evolving blockchain ecosystem,” said Lon Wong, president of the NEM.io Foundation. “This strategic alliance will fuel expanded reach, deeper collaboration, and multiplication of value as we journey towards developing blockchain hubs around the world.”
“We’re proud to work with the NEM.io Foundation, as we believe their blockchain technology platform is the future standard for mainstream enterprise and organizational infrastructures,” said Sam Lee, CEO of Blockchain Global. “The opening of a nonprofit blockchain center in Malaysia allows both Blockchain Global and NEM to pursue our missions to foster mainstream innovation and adoption internationally.”
The NEM.io Foundation is expected to spend around $40 million USD in the next year to fund its global expansion programs. $5 million will be allocated towards supporting blockchain companies incubated in the Blockchain Center.
