Fintech

Huobi opens Russian office in partnership with state bank

December 14, 2018

Last week Singapore-based cryptocurrency exchange Huobi officially launched its first branch in Russia. The new exchange, dubbed Huobi Russia, is established in partnership with the state-owned Vnesheconombank (VEB) Digital Transformation Center and supported by Huobi’s regional exchange partnership program, Huobi Cloud. The Center of Digital Transformation was created by VEB to promote blockchain. Back in September …

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Yandex.Money adopts US personal finance management solution to “help people live smarter”

December 10, 2018

Yandex.Money’s 46 million users may now enjoy personalized analysis and advice to optimize their expenses and savings. The Russian e-payment company has integrated to its e-wallet mobile app a personalized financial management (PFM) service provided by American Moven Enterprise. This real-time application uses artificial intelligence to provide people with a “financial wellness” experience and “help …

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Sberbank and Interros Group conclude blockchain-based forex repo deal

December 6, 2018

Sberbank, Russia’s largest banking institution, and Interros Group, a Moscow-based private equity firm, have carried out an over-the-counter OTC foreign exchange repurchase agreement (repo) transaction employing smart contracts on a blockchain, Reuters Russia reported last week. Head of global markets department and vice president at Sberbank, Andrei Shemetov, informed Reuters that the transaction is real, legally binding, and has been “concluded in electronic format using a …

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Sberbank, NSD and MTS complete full-cycle bond deal on blockchain

November 28, 2018

Earlier this month Sberbank, Russia’s leading banking institution, and MTS, a major mobile operator, completed successfully a full-cycle security deal using smart contracts – from bond issue to full execution of the issuer’s obligations to the investor. The MTS commercial bonds were organized and purchased by Sberbank’s corporate and investment banking business.  Their nominal cost  – …

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Chinese WeChat Pay comes to Russia, Russian Mir goes global

February 11, 2021

WeChat Pay, the payment system of the popular Chinese instant messenger, is making its debut in Russia. In late October Russian Standard announced to be the first Russian bank to support such payments, with the Novotel Moscow Center hotel as the first participant in the program. “In the near future, other Russian Standard partners will …

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From industry applications, to regulation, to ICOs: International blockchain event in Moscow (Nov. 20)

November 26, 2018

Organized by Smile Expo, Blockchain Conference Moscow is part of an international series of events gathering local and global industry experts and players. The Moscow edition will be held for the eighth time. Intended for developers, entrepreneurs, investors, startup founders, as well as financiers, economists, lawyers, and marketers. It will highlight blockchain and cryptocurrency trends …

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AbeBooks closes bookseller accounts in Russia and three other countries due to cross-border payment issues

November 9, 2018

Last month AbeBooks, an online book retailer founded in 1995 (acquired by Amazon in 2008), announced its intention to close bookseller accounts in Czechia, Hungary, South Korea and Russia, starting from Nov. 30. Activities in these countries are “no longer viable to operate due to increasing costs and complexities,” AbeBooks stated.  AbeBooks’ service will continue in …

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A startup with Russian roots signs EU’s first blockchain property deal

November 8, 2018

A San Francisco-based startup, Propy, founded by Russian immigrant Natalia Karanyaeva, has powered Europe’s first real estate deal on blockchain. Previously, the project secured the first property transaction of $10 as a part of a pilot program in the state of Vermont in the USA. The EU’s first property sale on blockchain took place in …

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Russian companies can now receive B2B payments online in minutes

October 29, 2018

In what is perhaps a world’s first, Yandex.Checkout, the B2B branch of Yandex.Money, and Sberbank, the number one banking institution in Russia, have launched “B2B Payments,” a service intended for companies to accept online payments from corporate clients as easily as from individuals. The service (which can be activated only via Yandex.Checkout) automates invoice generation and makes online …

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UnionPay expands reach in Russia, Georgia, Central Asia

October 2, 2018

Last week UnionPay, the Chinese bank card giant, signed collaboration agreements with four financial institutions from Russia, Georgia, Uzbekistan and Kazakhstan. The signing ceremony took place in Tbilissi, Georgia, with participation from the Chinese ambassador to Georgia, the vice-president of the Central Bank of Georgia, and the CEO of UnionPay International, Mr. Cai Jianbo. In Russia, …

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Russian company launches giant mining farm near St. Petersburg

September 18, 2018

Last month crypto mining service provider CryptoUniverse launched what it claims to be Russia’s biggest data center for cryptocurrency mining. Located in the industrial park Levoberezhnyi at Kyryshy, a town in the the Leningrad (St. Petersburg) region, the facility occupies 4,000 sq. m. and hosts 3,000 machines to mine Bitcoins and Litecoins. “We are offering …

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