Fintech

Japanese fund invests in Russian online micro-lending platform SimpleFinance

September 19, 2017

Just a few months after a Eurobond issuance of $30 million,  SimpleFinance, a Russian online micro-lending platform targeting small and medium-sized businesses, has secured an equity investment from the SBI FinTech Business Innovation Fund LPS. Neither the amount nor any details of the deal were disclosed. The fund, with a capital amounting to JPY 30 billion ($271 million), …

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“As good as gold:” This Russian-designed token aims to tackle cryptocurrency volatility

October 11, 2017

In this Blockchain era where technology promises to digitize virtually any type of assets, the emergence of gold-backed tokens is no surprise. The concept is not new, but we are now witnessing its first applications. One of these projects is propelled by Goldmint, a company with Russian roots now preparing for its ICO and the …

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US-Russian crypto platform raises $30 million in ICO to “bridge the crypto universe and the traditional investment market”

September 14, 2017

The Blackmoon Crypto Platform, which presents itself as “a one-stop solution for asset managers to create and manage legally compliant tokenized funds,” has raised over $20 million in just one day through an ICO launched on September 12. On September 1, the startup raised $10 million through a pre-order campaign which started on August 5. …

US-Russian crypto platform raises $30 million in ICO to “bridge the crypto universe and the traditional investment market” Read More

Russia to promote environmental projects with “green cryptocurrency”

September 14, 2017

The All-Russia People’s Front (ONF), led by President Vladimir Putin, has submitted a proposal to the Russian government to create a “green cryptocurrency” to promote green energy and the development of environmental projects. The coordinator of the ONF project called “General cleaning”, Dmitry Mironov, stated that it is time to create a federal law on …

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Russia plans to regulate cryptocurrencies like securities, says minister amid contradictory signals

September 14, 2017

In contrast with China, which has just banned ICOs, the Russian government plans to regulate cryptocurrencies like securities, Finance Minister Anton Siluanov told reporters on Friday last week. These statement marks a full reversal from his ministry’s proposal last year to punish people who use digital currencies with up to seven years in jail, notes Bloomberg. Contradictory …

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Sberbank calls Russian programmers to develop next-gen in-memory solutions

February 12, 2019

In a new demonstration of its commitment to develop or integrate the newest technologies, Sberbank, Russia’s national savings bank, has announced a competition for Russia-based IT developers to create new prototype solutions enabling the provision of financial services in real time. The bank is leaving it to competition participants to pick areas of solutions applications. The only …

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Russia opens first criminal case involving bitcoin

September 4, 2017

Last week, Russian police arrested three businessmen for illegally trading in 500 million rubles worth of bitcoin, or around $9 million worth of the crypto-currency. The arrest marks the start of the first-ever criminal case against bitcoin sales in Russia, Vedomosti business daily reported on Sept. 1. The Russian government has a balancing act to do: they want to …

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Russian authorities consider keeping Bitcoin away from the public

September 1, 2017

In a turn of events, Russia’s deputy minister of finance Alexey Moiseev has claimed bitcoin is akin to a high-risk “financial pyramid,” hence requiring tight regulation. The Ministry of Finance is in discussion with Russia’s central bank and the Moscow Stock Exchange about such regulation, said Moiseev in a TV interview with Russian channel Rossiya 24. The authorities …

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LAToken raises $10 million in ICO to create “the first asset-backed token exchange”

September 9, 2017

As the ICO fever continues to rise, LAToken, a Blockchain platform which aims to make tradable potentially any type of assets, raised the equivalent of $9.6 million in late August. In just three days, investors bought 30 million tokens, each one amounting to 0,001 ETH. During the three next stages of the ICO, which will take place in …

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Russia’s first deputy PM supports a state cryptocurrency

August 31, 2017

In an interview with Russian publication RBC, Igor Shuvalov, Russia’s First Deputy Prime Minister spoke of his support for cryptocurrencies. The senior official specifically called for the creation of a “crypto-ruble,” a state-backed cryptocurrency that would, according to him, make the Russian economy stronger. The Russian official’s comments come with months of the notable revelation that …

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Apple Pay to add more banks across the US, Russia, and China

August 16, 2017

New banks and credit unions across the US, the UK, Australia, Russia, and China have joined Apple’s list of participating partners as part of the second expansion of Apple Pay this month. In the UK, Cumberland Building Society is now supported, and Latitude Financial Services in Australia also joins the list. In addition to the …

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New fintech fund targets startups operating in Russia or founded by Russians

August 15, 2017

Russia’s fintech investors are not asleep in the summer with yet another fund announced last week. Dubbed ‘Target Global Fintech Opportunities,’ the new investment vehicle will target fintech startups operating in Russia, or abroad with Russian founders, or foreign ones with plans to enter the Russian market. Sergey Solonin, a co-founder of payment service provider Qiwi, …

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