Bank of Russia's recent event saw plans for a block chain consortium progress.
A group of banks in Russia have announced their intention to join a Blockchain Consortium that was recently proposed on the basis of a newly signed mutual memorandum, as Russia’s central bank has just said that it is testing a blockchain messaging system.
Payments provider QIWI Group had previously announced plans for the Russian Blockchain Consortium effort, which has apparently now picked up some significant backing from regional players.
In addition to QIWI, Accenture, BINBANK, MDM Bank, Bank Otkritie, and Tinkoff Bank, have all expressed their intent to join the blockchain initiative, as unveiled during a conference in St. Petersburg.
The banking business is undergoing a rapid new technology-caused transformation as we see the emergence of new areas in the banking business.
Russian banks chime in
Bank Otkritie’s director of innovation, Alexey Blagirev, commented regarding the development: "Collaboration with major players in the banking sector and the participation of the regulator will allow us to create and test new approaches, such as joint settlements, simplifying the customer identification procedures.
Commenting in an official statement, Sergey Solonin, CEO of QIWI Group, said: “Creation of consortium in Russia is our response to the rapidly growing interest in innovative technologies that can lead the economy, business and daily life of a person to a completely new level of interaction and confidence."
Mr. Solonin added: "I’m convinced that the Consortium, which brought together the Russia’s largest financial company, is able to become an effective platform for multilateral cooperation in exploration, launching innovations and their implementations in financial services.”
St. Petersburg Conference
Hosted by the country's central bank, the XXV International Financial Congress had just taken place through July 1st, where Bank of Russia governor Elvira Nabiullina discussed related plans to help support fintech. She said the new platform would be "akin to a corporate university," to help foster collaboration and innovation in finance.
Mrs. Nabiullina added: "The banking business is undergoing a rapid new technology-caused transformation as we see the emergence of new areas in the banking business. Therefore, undoubtedly, both the regulator and the bank community need to be abreast of all recent trends and best business practices.
Mrs. Nabiullina concluded: "My hope is that the bank community will assist us in developing the agenda for this platform."
The Central Bank of Russia’s officials had invited banks to discuss the broader issues surrounding the development of crypto technologies in Russia, during its recent event in St. Petersburg.
Cryptocurrency in Russia
In a recent regulatory filing, QIWI had noted that it had started developing a new cryptocurrency called ‘Bitruble’ using a blockchain-driven distributed ledger technology that is common with cryptocurrencies such as bitcoin.
The company had also noted in the filing that it was working with Russian regulators to ensure that it will be able to launch this product in full compliance with Russian law, amid calls for cryptocurrencies in the country for to be outlawed.
Meanwhile, the new tone that emerged from the conference suggests that Russia may be opening up to the idea of cryptocurrencies, due to its testing of blockchain technology for its messaging system.
A group of banks in Russia have announced their intention to join a Blockchain Consortium that was recently proposed on the basis of a newly signed mutual memorandum, as Russia’s central bank has just said that it is testing a blockchain messaging system.
Payments provider QIWI Group had previously announced plans for the Russian Blockchain Consortium effort, which has apparently now picked up some significant backing from regional players.
In addition to QIWI, Accenture, BINBANK, MDM Bank, Bank Otkritie, and Tinkoff Bank, have all expressed their intent to join the blockchain initiative, as unveiled during a conference in St. Petersburg.
The banking business is undergoing a rapid new technology-caused transformation as we see the emergence of new areas in the banking business.
Russian banks chime in
Bank Otkritie’s director of innovation, Alexey Blagirev, commented regarding the development: "Collaboration with major players in the banking sector and the participation of the regulator will allow us to create and test new approaches, such as joint settlements, simplifying the customer identification procedures.
Commenting in an official statement, Sergey Solonin, CEO of QIWI Group, said: “Creation of consortium in Russia is our response to the rapidly growing interest in innovative technologies that can lead the economy, business and daily life of a person to a completely new level of interaction and confidence."
Mr. Solonin added: "I’m convinced that the Consortium, which brought together the Russia’s largest financial company, is able to become an effective platform for multilateral cooperation in exploration, launching innovations and their implementations in financial services.”
St. Petersburg Conference
Hosted by the country's central bank, the XXV International Financial Congress had just taken place through July 1st, where Bank of Russia governor Elvira Nabiullina discussed related plans to help support fintech. She said the new platform would be "akin to a corporate university," to help foster collaboration and innovation in finance.
Mrs. Nabiullina added: "The banking business is undergoing a rapid new technology-caused transformation as we see the emergence of new areas in the banking business. Therefore, undoubtedly, both the regulator and the bank community need to be abreast of all recent trends and best business practices.
Mrs. Nabiullina concluded: "My hope is that the bank community will assist us in developing the agenda for this platform."
The Central Bank of Russia’s officials had invited banks to discuss the broader issues surrounding the development of crypto technologies in Russia, during its recent event in St. Petersburg.
Cryptocurrency in Russia
In a recent regulatory filing, QIWI had noted that it had started developing a new cryptocurrency called ‘Bitruble’ using a blockchain-driven distributed ledger technology that is common with cryptocurrencies such as bitcoin.
The company had also noted in the filing that it was working with Russian regulators to ensure that it will be able to launch this product in full compliance with Russian law, amid calls for cryptocurrencies in the country for to be outlawed.
Meanwhile, the new tone that emerged from the conference suggests that Russia may be opening up to the idea of cryptocurrencies, due to its testing of blockchain technology for its messaging system.
US Prosecutors Recommend 3-Year Prison Sentence for Binance's Changpeng Zhao: Report
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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