Fintech

Russian team prepares $100 million ICO to challenge China in bitcoin mining

November 24, 2017

As Russia is being hit by the ICO (initial coin offering) fever, a company co-owned by Dmitry Marinichev, the presidential Internet commissioner, plans to raise as much as $100 million in cryptocurrencies. Russian Miner Coin (RMC) aims to help Russian entrepreneurs challenge China in Bitcoin mining, reports Bloomberg. The tokens issued will have rights to 18% of the revenue …

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Russian banks look to a Blockchain future

December 24, 2018

Two months after President Vladimir Putin met the founder of ethereum — the world’s biggest cryptocurrency after bitcoin — a consortium of the country’s biggest banks has developed a distributed ledger dubbed Masterchain. This ledger uses a modified ethereum protocol while complying with national security standards, according to the country’s central bank-backed FinTech Association. The lenders, including Sberbank PJSC and VTB Group, are hoping that by adopting …

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Russian funds launch giant investment programs on the global fintech scene

August 3, 2017

As global fintech investment might reach new heights this year, Russian players are in the game with several Moscow-based firms announcing plans to invest massively in this industry. Thus two asset management companies, Fintech Capital and Da Vinci Capital, are launching a $200 million debt finance fund for fintech companies. FinTech Capital is owned by ID …

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New crypto platform helps you launch your own tokenized investment fund

August 31, 2017

Blackmoon Financial Group, a US financial technology and investment management company with Russian roots, today announced the launch of a Blockchain-based platform for tokenized vehicles. The Blackmoon Crypto platform presents itself as “a one-stop solution for asset managers to create and manage legally compliant tokenized funds.” From technology and infrastructure to legal framework and corporate …

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Russian mobile acquiring leader Smartfin secures $3 million for further R&D and potential M&A

July 28, 2017

Smartfin, a Moscow-based provider of mobile acquiring solutions for SMBs (operating under the brands 2can and ibox), has secured $3 million from several funds under the management of Da Vinci Capital. Inventure Partners, one of the early investors in the company, also took part in the round, which was announced earlier this week. “Since our first investment in 2can and ibox, the …

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US indicts Russian suspected of $4 billion bitcoin laundering scheme

September 27, 2017

A U.S. jury indicted a Russian man on Wednesday as the operator of a digital currency exchange he allegedly used to launder more than $4 billion for people involved in crimes ranging from computer hacking to drug trafficking. Alexander Vinnik was arrested in a small beachside village in northern Greece on Tuesday, according to local …

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Russia’s Finstar to invest $150 million in fintech startups over five years

July 25, 2017

Russian private equity firm Finstar has announced plans to invest $150 million in fintech startups over the next five years. Finstar will invest between $500,000 and $30 million in three to six deals a year in seed and Series A rounds, said Oleg Boyko, chairman of Finstar (pictured). The firm isn’t new to fintech investments, having previously backed …

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Aeroflot considers using cryptocurrencies and Blockchain in its payment operations

December 23, 2018

Cryptocurrency-based projects are springing up in Russia, as President Putin sees in these technologies a potential instrument for the country’s modernization and the central bank has officially recognized bitcoin a “digital currency.” One of the latest initiatives from the private sector came earlier this month from Aeroflot. The giant Russian airline company is investing 24.6 million …

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Fintech: A Russian revolution is coming

July 23, 2017

Russia is the world’s third largest financial technology market and bankers at the annual sector conference in St Petersburg this year said they are continuing to roll out new cutting edge services as the need for digitization is becoming urgent. Russian President Vladimir Putin made digitization a centerpiece of this year’s St Petersburg International Economic Forum (Spief), …

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AI-enhanced mobile trading app raises $25 million from Eastern Europe

August 3, 2017

Two major investors from Russia and Belarus have just injected $25 million in Capital.com, a trading app that is similar to Robinhood in the US or Trading212 in Europe — but with a specific AI-powered function that provides users with tailored content based on behavioral analysis. Dubbed ’Smart Feed’ and scheduled for launch next month, this AI function analyzes user …

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Russia’s new Blockchain passion displayed at St. Petersburg conference and Moscow hackathon

December 23, 2018

Illustrating the country’s new passion for the Blockchain technologies, two notable events took place last month in Russia. The first one, the Blockchain & Bitcoin Conference, was held on June 22 in Saint Petersburg, attracting over 600 visitors and 25 exhibitors. As reported by Bitcoin Magazine, “a mixed crowd of denim jeans and custom-tailored suits, typical for …

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Russia’s illegal drug trade thrives in the dark web

July 5, 2017

The drug transactions plaguing some Moscow neighborhoods begin in drug supermarkets hidden online in the deepest reaches of the “dark web.” Here, hundreds of eager suppliers compete to satisfy their customers’ sophisticated palettes. Cryptocurrencies like Bitcoin are the legal tender here. In exchange, buyers are issued GPS coordinates to the spot where their purchases await …

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