Russian central bank policies stop Tinkoff from offering crypto trading, CEO ...
Russia has officially legalized crypto trading this January but the government still doesn’t allow local banks to offer crypto services. Tinkoff, a major private bank in Russia, is struggling to offer cryptocurrency trading to its clients due to the central bank's tough stance on digital assets.Tinkoff CEO Oliver Hughes said that the digital bank is willing to offer crypto trading services but is restrained by the Bank of Russia's policies, CNBC reports. The executive announced the news at the Saint Petersburg International Economic Forum on Thursday, stating:“There’s no mechanism for us....
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The Russian neobank Tinkoff is joining the world of cryptocurrencies with the purchase of a stake in Aximetria, a Swiss-registered and licensed company which provides clients around the world with services and solutions for digital financial assets.
Tinkoff Bank Buys Stake in Aximetria
TCS Group Holding, the owner of the Russian Tinkoff Bank, has reportedly acquired a controlling stake in the crypto company Aximetria. Official numbers are yet to be announced but according to The Bell, which broke the news quoting financial market sources, TCS Group may now control up to 83.2% of....
One way or another, Russians get exposure to crypto even if they go abroad, Tinkoff Investments’ head said. Tinkoff Investments, the online brokerage of major Russian private bank Tinkoff, is researching cryptocurrency investment services despite the Bank of Russia withholding the bank from launching such tools.Tinkoff Investments head Dmitry Panchenko claimed that the bank’s brokerage portal is considering projects related to cryptocurrency investment, but it’s too early to discuss specific ideas.The company is now working on research and development initiatives targeting a range of....
Russia needs to move to Bitcoin to provide a “real financial instrument enabling independence in foreign trade settlements,” Deripaska argued. Russian industrial tycoon Oleg Deripaska is the latest figure to criticize the Bank of Russia’s stance on cryptocurrency regulation in the country.Deripaska took to his official Telegram channel on Thursday to blast the Russian central bank for pressuring the crypto industry to avoid getting involved into cryptocurrencies like Bitcoin (BTC).The Russian oligarch pointed out that even small countries like El Salvador have moved into Bitcoin by....
Russian banks have been increasingly moving into the digital asset market despite the Bank of Russia's hostility toward crypto. TCS Group, the owner of the major private Russian bank Tinkoff, is gaining exposure to digital assets.The firm has invested in Swiss digital asset service provider Aximetria, which is set to become the company’s first major crypto-related outfit, local news agency The Bell reported Wednesday.Citing data from Aximetria, the report suggests that TCS purchased 4,449 Aximetria shares worth 100 Swiss francs ($108) per share. Given that Aximetria’s total share capital....
Top Russian bankers cite their reasons for not liking Bitcoin after Tinkoff's CEO said that the central bank was stopping it from offering crypto trading services. Sberbank and VTB, the two biggest banks in Russia, are not willing to move into the cryptocurrency market in the near future as their CEOs believe that crypto is either too risky or fake money.Sberbank CEO Herman Gref said that cryptocurrencies like Bitcoin (BTC) are probably the riskiest type of investment alongside the equity market. In a Thursday interview with local TV channel NTV, Gref claimed that a banking deposit is the....