Payments Giant Qiwi Unveils Crypto Investment Bank

Qiwi, one of the largest e-payment providers in Russia, is launching a crypto investment bank, called HASH, to advise investors and help Russian companies tokenize their assets once the appropriate regulation in Russia is in place.

The company announced it was launching a new enterprise based on its fintech subsidiary Qiwi Blockchain Technology.

HASH, branded as "The first crypto investment bank in Russia," will.

Manage clients' ICOs, help them build their blockchain networks and raise funds.

The company has already partnered with an array of fintech companies around the world, including Bitfury Capital, Itech, InVenture, Target Global, Hosho, Wings, and RootStock, said Constantine Koltsov, partner at Qiwi Blockchain Technology.

"We are going to make an international crypto bank providing trading services, research and ICO advisers ... When the proper regulation is in place, we are going to help companies from traditional sectors of economy, like natural resources and heavy industry, to raise money through ICOs.".

ICOs can be helpful at a time when major Russian banks are under sanctions, and can have difficulty borrowing money from organizations in the West, he said.

For blockchain and cryptocurrencies, HASH will initially work with projects registered in other jurisdictions, but Russian investors are free to participate in various ICOs with the company's help, Koltsov said.

Otherwise, the company will continue focusing on projects in different legal landscapes, he added.

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