Qiwi’s Execs to Launch Russia’s First Crypto Investment Bank
Representatives of Russia-based payment services provider Qiwi have created the first crypto investment bank in the Russian market.
The project, to be known as HASH, will provide assessment, search and market entry projects, attributes typical of investment banking firms designed to appeal to large investors, according to Kommeresant. HASH will not operate as a Qiwi Group subsidiary. Qiwi Blockchain Technologies (QBT) will serve as HASH’s technology contractor as HASH establishes its token’s purpose, how it will be used and how it will work.
The entry of traditional investment banks into the digital asset market is expected to drive the growth of this high-risk market in relation to its volume. The evolution of the legislative base will also support the market’s growth, experts believe.
Following the ICO, which is under preparation, HASH will attract interest from international funds that focus on investing in digital assets. HASH is currently working with 10 such funds, including one with around $100 million.
Credit – CCN