The Russian payments provider is thoroughly involved in developing and testing blockchain projects and ideas that can be directly applied to its core payment market. Currently, Qiwi is working on some blockchain projects that can be applied on one of the R3 platforms and have great potential to be favourably perceived by regulated financial institutions as the company is working closely with national regulators and domestic financial institutions in order to familiarize the market with these technologies.
Qiwi is the first company from Russia to join R3’s global network of over sixty major banks and institutions developing distributed and shared-ledger inspired solutions, according to Finance Magnates. Referring to the new member added to the consortium, R3 representatives said that the addition of Qiwi is a further milestone for R3 as Eastern Europe is a key region for the consortium’s expansion of its network.
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