News Execs at Payments Giant Qiwi Launch Crypto Investment Bank

Execs at Payments Giant Qiwi Launch Crypto Investment Bank

-

- Advertisment -

Executives at the blockchain arm of Qiwi, one of the largest e-payment providers in Russia, are launching a crypto investment bank, called HASH, 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 to focus on blockchain development and consulting.

Branded as “the first crypto investment bank in Russia,” HASH will manage clients’ ICOs, help them build their blockchain networks and raise funds.

The project has already partnered with an array of international fintech companies, including Bitfury Capital, Itech, InVenture, Target Global, Hosho, Wings, and RootStock, said Constantine Koltsov, partner at Qiwi Blockchain Technology and head of corporate relationships at HASH.

Koltsov added:

“We are going to make an international crypto bank providing trading services, research and ICO advisers … When the proper regulation is in place, we are going to help companies from traditional sectors of economy, like natural resources and heavy industry, to raise money through ICOs.”

In particular, 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, he said, due to the number of scams on the market.

Koltsov claimed that HASH was already working with a private oil and gas company on launching an ICO to raise $20 million, though he declined to name the firm.

ICOs can be helpful at a time when major Russian banks are under sanctions, and can have difficulty borrowing money from organizations in the West, he said.

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, Koltsov said.

The Hash team expects that the Russia’s parliament to pass the bills regulating cryptocurrencies and blockchain this fall. Otherwise, the company will continue focusing on projects in different legal landscapes, he added.

Edit (14:25 June 20 2018): This article has been updated to make clear the relationship between Qiwi, its blockchain subsidiary and HASH.

Qiwi image via Shutterstock


The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

GoCrypto presents truly contactless payments with a simple solution for merchants and buyers

7 April 2020 — The recent events have rapidly changed the way we live, including our shopping...

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using Bitengo.io

Bitengo.io is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...
- Advertisement -Execs at Payments Giant Qiwi Launch Crypto Investment Bank

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you