Tagged: russia

October 9, 2020 @ 10:40 am By Samantha Hurst  |  

Russian banking group Tinkoff announced earlier this week it has launched a financial messenger built into its mobile app that allows users to chat while making financial transactions. According to Tinkoff, customers will be able to share bookings, payments, and gigabytes of traffic soon, as… Read More

October 3, 2020 @ 9:47 am By Omar Faridi  |  

Companies or businesses that have been targeted with malicious ransomware attacks might potentially face fines as high as $20 million if they agree to the demands from extortionists, particularly the ones who have been listed on financial crime sanctions lists, the US Department of Treasury… Read More

September 24, 2020 @ 10:27 pm By Samantha Hurst  |  

Russian banking group Sberbank announced on Thursday it is rolling out cloud service for businesses to sign payment documents inside the bank’s mobile app. Sberbank explained that users of its corporate banking solution will be able to clear payments and sign documents through non-certified digital… Read More

September 18, 2020 @ 6:34 am By Omar Faridi  |  

Eastern Europe has the fourth-largest cryptocurrency market in terms of total transaction volume, according to Chainalysis’ research. Ukraine and Russia, which are also part of the Eastern European region, have been ranked quite high on Chainalysis’ Global Crypto Adoption Index. It takes into consideration a… Read More

August 28, 2020 @ 10:17 am By Samantha Hurst  |  

Russian banking group Sberbank announced on Thursday it has teamed up with Evotor to add a new function to the Pay with QR service when accessed through Evotor POS terminals, by letting customers use their QR codes in addition to dynamic QR codes already available…. Read More

August 10, 2020 @ 4:37 pm By Samantha Hurst  |  

Russian banking group Sberbank is reportedly set to launch a blockchain platform built on Hyperledger Fabric. According to Coindesk, the blockchain system is designed for trade finance, which will include exchanging letters of credit. The media outlet also revealed that Sberbank Deputy Chair, Anatoly Popov,… Read More

August 5, 2020 @ 11:28 pm By Omar Faridi  |  

Russia’s largest banking institution, Sberbank, is reportedly looking into whether it should launch its own stablecoin, which are digital currencies that are pegged or backed by real-world assets, major fiat currencies, or commodities such as gold. Sergey Popov, director of state-owned Sberbank’s transaction business, said… Read More

August 3, 2020 @ 2:44 pm By JD Alois  |  

Russia has signed into law legislation that impacts the cryptocurrency sector. On the last day of July, the Russian President, Vladimir Putin, signed the document that introduces a legal framework for digital assets that differentiates between digital securities and digital currencies. The statute, Federal Law… Read More

July 30, 2020 @ 9:00 am By Omar Faridi  |  

Peer to peer Bitcoin marketplace, Paxful claims that there’s now a growing interest in the use of P2P Bitcoin (BTC) trading platforms in Russia. According to a release shared with Crowdfund Insider, many Russians have been turning to cash and BTC during these times of… Read More

July 28, 2020 @ 10:14 pm By Omar Faridi  |  

Singapore-based Matrixport, a company that aims to serve as a gateway to the digital economy where users can trade, custody, invest, and borrow digital assets through a single, unified platform, has launched Bit.com, a cryptocurrency derivatives exchange. Founded in February 2019, Matrixport describes itself as… Read More

July 22, 2020 @ 11:34 pm By Omar Faridi  |  

VTB Bank, a leading Russian universal bank with over $6 billion in annual revenue, has introduced a “robot factory.” The bank, which has more than 77,000 workers, says it’s planning to introduce 250 “digital employees” off the production line in the coming years. VTB Bank’s… Read More

July 20, 2020 @ 2:46 pm By JD Alois  |  

A report in German newspaper Handelsblatt claims that Jan Marsalek, Wirecard‘s former COO who is apparently on the run in light of the collapse of the once prominent Fintech, is said to be hiding out in Russia. The report references in the know individuals who… Read More

July 10, 2020 @ 8:08 am By Samantha Hurst  |  

Russian banking group Sberbank announced on Thursday the launch of SberPay, which is a new system for payment services. According to Sberbank, SberPay allows users to pay for purchases both online and offline. “SberPay is absolutely free for retail customers. Fees for using SberPay’s online… Read More

July 3, 2020 @ 8:07 am By Omar Faridi  |  

A criminal court in Russia has reportedly rejected a motion to offer restitution to a victim after they lost around 100 Bitcoin (BTC), an amount currently valued at around $910,000. In 2018, two Russian men impersonating the country’s Federal Security Service (FSB) agents had allegedly… Read More

June 30, 2020 @ 7:32 am By Omar Faridi  |  

Russia’s blockchain or distributed ledger technology (DLT)-enabled voting system for the constitutional amendments recently suffered an attack through an election observer’s node. State-owned news outlet TASS reported that the attack took place on June 27, 2020, at about 8 PM CET. A spokesperson from government… Read More

June 12, 2020 @ 6:25 pm By Omar Faridi  |  

David Chan, CEO at Monedo (previously Kreditech), a point of sale (PoS) lender that claims to have more than one million customers who have reportedly received over 2 million loans (as of March 2020), says that the online lender has a global addressable market of… Read More

June 11, 2020 @ 9:39 pm By Samantha Hurst  |  

Russian banking group Tinkoff announced earlier this week it has added new translation capabilities by phone number in the mobile app. The following options are now available on the Tinkoff platform: Transfers by phone number can now be made from savings accounts, both inside Tinkoff… Read More

June 8, 2020 @ 7:42 am By Omar Faridi  |  

Berlin-headquartered Vivid Money, a digital banking service provider that’s supported by Russia’s Tinkoff Bank, launched on June 8, 2020 through a partnership with solarisBank and payments giant Visa. Vivid Money says it’s the first mobile-based, full-service banking solution, providing cashback incentives, sub-accounts in major foreign… Read More

June 3, 2020 @ 9:22 am By JD Alois  |  

Factorin, a trade finance platform using blockchain, reports that it has “transformed” the trade finance market in Russia in one year since launch. According to a company release, Factorin has garnered relationships with 30 different banking entities, processed 246,000 invoices with transactional turnover exceeding $500… Read More

May 28, 2020 @ 10:11 pm By Omar Faridi  |  

Russia’s largest banking institution, Sberbank, has reportedly called on local suppliers to provide 4,917 ATMs that come with built-in graphic cards that can perform “blockchain operations.” According to industry experts, these graphic cards would most likely be used for mining decentralized cryptocurrencies like Bitcoin (BTC)…. Read More