The largest Russian payment service Qiwi decided to launch investment Bank for cryptocurrency projects. To engage them will be the heads of the subsidiary Qiwi Blockchain Technologies, and the organization will be called HASH.
The tasks of the investment Bank will be to assist companies in tokenization assets, creating its own blockchain networking and fundraising.
As reported by Konstantin Koltsov, responsible for corporate relations in the HASH, a new project has partnered with many international financial and technology companies in particular with large industrial miner Bitfury Capital, the investment firm InVenture and the blockchain platform RootStock.
The Bank plans to focus on supporting companies working with natural resources or heavy industry. They HASH will help raise funds with the help of ICO. According to Koltsov, the Bank cooperates with a private oil and gas company, whose name has not been disclosed.
Another direction of work HASH will be consulting various financial organizations that plan to invest. As explained Koltsov, many investors are concerned that among the ICO there are many fraudulent, so this consulting is essential. At the same time, he believes that the initial placement of the coins can be particularly useful at a time when many Russian banks are under sanctions and cannot raise money from Western companies.
Koltsov also noted that the investment Bank will be able to start its activities only after the government will begin to implement a legal regulation of the cryptocurrency sphere. Until then HASH will have to work with companies open to foreign jurisdictions. The project team expects that the Russian authorities will take appropriate laws this fall.
Recall that Qiwi Blockchain Technology was established in March 2017 as a subsidiary of Qiwi. The company’s goal was to develop products using blockchain technology and consulting for external customers. Then Qiwi was pledged by his “daughter” about 100 million roubles. And in July of the same year, the head of the payment service Sergey Solonin together with IT school Scream School began work on the creation of the “Academy Blockchain” — a one-month training blockchain technology.
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