Qiwi Launches Russian Crypto Investment Bank

July 4, 2018

QIWI Blockchain Technologies (QBT), a subsidiary of the Russian payment service Qiwi, has launched a cryptocurrency investment project. The project is called HASH.

HASH is build on a classic model of investment banking and provides customers with a platform for ICOs. QBT CFO Yakov Barinsky says, that HASH will help companies to go through the fundraising phase.

According to Kommersant, HASH is looking to cooperate with international cryptocurrency investment funds. Barinsky confirmed this information, saying that the project is already in talks with ten funds, the largest of which has a turnover of about $100 million.

Barinsky also said that the project will offer cryptocurrency trading services starting next year. The company needs to obtain a license first. HASH expects, that the Russian government will soon present the cryptocurrency and blockchain legislation.

QBT was launched in March 2017. A total of 100 million rubles was invested in the project for the development of internal blockchain products. In July 2017 Qiwi teamed up with Scream School and launched Blockchain Academy, that offers a one-month course for IT-specialists, focused on blockchain technology and the development of blockchain-based. IT-solutions.

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