Qiwis execs to launch crypto investment bank

Monday 2 July 2018 00:36 CET | News

Executives at the blockchain arm of Qiwi, a large e-payment provider in Russia, have announced plans to roll out a crypto investment bank, called HASH.

The initiative aims to advise investors and help domestic companies tokenize their assets once appropriate regulations are in place. The new enterprise is being launched by senior staff at Qiwi Blockchain Technology – a Qiwi subsidiary formed in March 2018 to focus on blockchain development and consulting.

The project has already partnered with an array of international fintech companies, including Bitfury Capital, Itech, InVenture, Target Global, Hosho, Wings, and RootStock, according to CoinDesk.

Moreover, HASH will also advise financial institutions on the quality of crypto projects they are considering investing in, since many of them have some apprehension towards ICOs, due to the number of scams on the market.

As Russia has yet to pass regulations for blockchain and cryptocurrencies, HASH will initially work with projects registered in other jurisdictions, but Russian investors are free to participate in various ICOs with the company’s help.

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Keywords: QIWI, payments , Russia, innovation, banking, financial markets, blockchain, cryptocurrency, investment bank, hash
Countries: World