Russian Payments Firm Releases Crypto Investment Bank

QIWI-HASH

Executives at the blockchain arm of one of the largest e-payment providers in Russia are launching a crypto investment bank named HASH. The aim of this is to encourage investors and help domestic companies tokenize their assets when proper regulations are already in place, as the partner at QBT and head of corporate relations at HASH Constantine Kolstov has stated.

In March, Russian payments firm Qiwi has formed a subsidiary, called Qiwi Blockchain Technology, that concentrates on blockchain development and consulting. The senior staff of the mentioned group is the one launching the new project.

Kolstov also mentioned that the project has already partnered with a group of international fintech companies, including Bitfury Capital, Hosho, Itech, InVenture, RootStock, Target Global, and Wings.

Based on a report, HASH is set to follow a “classic investment banking model.” Furthermore, the crypto investment will be used to expand a platform to help companies manage their ICO projects.

Yakov Barinsky, the QBT’s chief financial officer (CFO), verified that HASH would support blockchain and crypto startups to go through the fundraising stage. The crypto investment scheme will also involve funds from international investors who intend to add crypto assets to their portfolios.

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