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Russian bank Tinkoff explores cryptocurrency investment

October 29, 2021
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On October 29th, Tinkoff Investments, the online brokerage company of Russia’s major private bank Tinkoff, is studying cryptocurrency investment services, even though the Bank of Russia blocked the bank. Introduce such tools.

Dmitry Panchenko, head of Tinkoff Investments, said that the bank’s brokerage portal is considering projects related to cryptocurrency investment. But it is too early to discuss specific ideas.

Panchenko said in an interview with the local news agency TASS on October 28 that the company is currently working on a series of research and development plans for encryption-related services. Tinkoff Investments pays special attention to the encryption products of companies such as international payment giant PayPal. And encryption-friendly applications such as Revolut and Robinhood.

Panchenko emphasized that although local regulators have not yet allowed companies such as Tinkoff Investments to provide crypto investment services, Russians are still actively trading cryptocurrencies on foreign platforms and have cryptocurrency assets worth more than $15 billion on exchanges.

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