P.S: I am not shilling anything like that and I am not getting paid in any manner to write this article. This is for spreading news purposes only.

QIWI, one of the largest e-payment providers in Russia has launched a crypto investment bank called HASH. The main motive of this is to advise investors and help Russian companies tokenize their assets.

HASH, branded as "the first crypto investment bank in Russia", will provide a platform for initial coins offerings (ICOs), help them to build their blockchain networks and raise funds. It will also advise financial institutions on the quality of Crypto assets they are going to buy.

Constantine Koltsov, the partner at Qiwi Blockchain technology said that the company has already partnered with some FinTech companies like Bitfury Capital, InVerture, Itech, Hosho, Target Global, RootStock, and Wings around the world. He also added that they are going to make an international crypto bank providing trading services, research and ICO advisers. They are going to help companies from traditional sectors of the economy, like natural resources and heavy industry, to raise fund through ICOs when the company obtains the necessary license. The Russian government is set to pass its regulatory bill on 1st July related to the major crypto and blockchain. He said that 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.

Yakov Barinsky, QBT’s Chief Financial Officer (CFO), said that HASH would assist companies to go through the fundraising stage. He also mentioned that the company already works with 10 such funds out of which $100 million was the largest one having a turnover.

Qiwi was founded in Moscow in 2007. It has become the largest e-payment services in Russia as well as in Ukraine, Kazakhstan, Moldova, Romania, Belarus, the United States, and the United Arab Emirates. It is simple and quick online payment system, which is also available through a mobile application. The Online payment system was often used to make online shopping and repay of loans. Recently, the company has been listed among 39 international firms that have partnered to test its KYC app.

Qiwi’s subsidiary QBT was launched in March 2017 to develop internal blockchain products with 100 million rubles in funding ($1.6 million).

Qiwi partnered with IT educator Scream School to open a private “Blockchain Academy”, in July 2017. They offer a one-month course for IT professionals focusing on the principles of blockchain and the development of IT solutions based on it.

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