Russia’s First Crypto Investment Bank

in mgsc •  last year 

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Traditional Sector Could Boost Crypto
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.

Main Qiwi Shareholder Eyes Progress
QBT financial director Yakov Barinsky, who serves a HASH’s project manager, said Qiwi Group’s main shareholder and general director, Sergey Solonin, is interested in the crypto initiative.

Solonin told Kommersant he is interested in participating in the project as a strategic investor, but he intends to make a decision after observing the project’s development.

Barinsky said the project will receive its commission after a company raises funds in the market, a classic investment banking service monetization model being used in the digital assets market.

The digital asset market’s speculative nature and its lack of long money reflect the lack of understanding of the costs involved. The project has postponed securing a trading license for the next year, Barinsky said.

ICOs with Russian participation accounted for 60% to 80% of placements, according to data. Since the start of the year, 530 ICOs have been undertaken, drawing $11.9 billion, according to Coinschedule, largest being Telegram’s $1.7 billion ICO.

Traditional Investment Bankers Reserved
Traditional investment banking observers were reserved about the project.

VTB Group, a Russia based global provider of financial services comprised of more than 20 credit institutions and financial companies, believes traditional investment banks’ interest in digital assets will increase in relation to the legislative base’s improvement in the sector.

Blockchain technology, however, is suited for both traditional corporate banking and investment banking, according to the VTB Group press service. An investment banker who wanted to remain anonymous said the cryptocurrency market differs from classical products for attracting capital.

The investment banker said HASH is close to early-stage capital raising or venture capital, and that the classical and crypto niches “intersect a little.”

Sources told Kommersant that the risk of investing in a fraudulent ICO is too high, even when the investment consultant does not intend to deceive the investor. The risk exists that the investor could lose funds and the consultant could face civil liability for improperly fulfilling his obligations. It will be difficult to prove, however, that the consultant is to blame for the loss of funds since the investment contracts include a warning that investing in digital assets carries a high risk.

REFERENCE: https://www.ccn.com/payments-giant-qiwis-execs-to-launch-russias-first-crypto-investment-bank/

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I hope India will follow Russia very soon.. what do you think guys??

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Good news for crypto world. India should have to learn from this.

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india must also do something like this.what you @rajatgaur think.

Cheetah catches you, bro. Anyway nice article. Thanks for sharing.

Good step by the bank , hope this will increase the trust on crypto . Hope so this brings the positive change

thanks for sharing information ........

Thank you for the good post! Great to have people in this community who cares about cryptocurrency and provides useful information! By the way, I post cryptocurrency related posts daily, you more than welcome to check my page @southforce

  ·  last year (edited)

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good info

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Good step for bank ..i hope this will The trust to growth crypto seccess

our country should learn from russia

there are many more good news are on the way....

Gud news

Good steps for the new upcoming future where Crypto will be the international currency not the vertual currency.

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In Future Every Bank will Adopt This Technology bcz if they don't they will die
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By reading this post I just got to know that one more crypto currency is adding to the market but i really do not understand why companies keep on adding a new crypto currency daily why don't they just invest in already running currencies and make them powerful.

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nice information

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I have already upvoted your this post before.

Thats great news for crypto community

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It does contain an investment warning but in a long run its not risky.

Upvt and commnt

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Nice. Keep it on.

This is a very interesting article. Surely crypto is on the rise. Everyone should go on board now...