Abstract: Qiwi, one of Russia’s largest electronic payment providers, is planning to launch a cryptocurrency investment bank called HASH. The new company will be based on Qiwi Blockchain Technology, a financial technology subsidiary founded in March this year.
According to Russian local media reported on June 29, QBT, a subsidiary of Russia’s well-known electronic payment company Qiwi, announced that it will set up its first digital currency investment bank HASH in Russia.
According to reports, HASH Bank will help customers manage their ICO, build a blockchain network and raise funds. HASH Bank will also provide financial institutions with advice on the quality of the cryptocurrency assets they will purchase.
Hash, which will provide assessment, search and market access projects, is a typical feature designed by investment banks to attract large investors. Hash will not operate as a subsidiary of the Qiwi Group.
Qiwi Blockchain Technology (QBT) will act as a technical contractor for Hash, and Hash determines the purpose, use and working methods of the token.
Hash will attract interest from international funds focused on investing in digital assets, according to the token issuance plan being prepared. Hach is currently working with 10 of these funds, one of which has about $100 million in funding.
According to Constantine Koltsov, a partner at Qiwi Blockchain Technologies, the company has partnered with a range of financial technology companies around the world, including Bitfury Capital, Itech, InVenture, Target. Global, Hosho, Wings and RootStock.
HASH will also provide financial institutions with advice on the quality of the cryptocurrency assets they will purchase.