What if I were to tell you that the Crypto world might still need banks? That’s what Qiwi, which is apparently an e-payments leader in Russia, seems to think.
This year, Qiwi will launch what they call a “crypto investment bank,” with the aim of providing a place for investors to seek informed advice about the space as well as for Russian companies to be able to “tokenize their assets.”
This means that once Russia does pass regulations that make it legal for companies to run on Crypto tokens and Blockchains, then Hash and therefore, Qiwi hope to be the leaders in facilitating this process at a large scale.
Back in March, Qiwi began its journey towards creating Hash by forming a subsidiary that would essentially act as their research and development department related to Blockchain development as well as Blockchain consulting.
According to a report by Coindesk, Hash will eventually fully manage the ICOs of their business clients, which will also include providing them with resources and assistance related to building blockchain networks.
At this time, however, it is unclear whether they will serve regular consumers at all. What has been said is that Hash can now help Russian would-be crypto investors, throughout the ICO process if they are interested in investing in a particular offering. The kicker is, these would usually be companies and not individual investors, supposedly.
As far as when and if the needed regulations will be pushed through, Hash and Qiwi are optimistic, with projections like all bills will be passed by this fall. Until the time that this occurs, Russian companies will have to be content with Qiwi’s ICO services.
As the process moves forward, it will also be interesting to see how the heavyweights of the Blockchain industry respond to such an idea, given one side’s relative fervor for decentralization outside of the control of the current banking industry.
By: BGN Editorial Staff