Russia's Tinkoff Banking Group Buys Majority Stake in Swiss Crypto Startup Aximetria

The startup with Russian roots has been offering crypto trading services and debit cards.

AccessTimeIconJan 12, 2022 at 4:05 p.m. UTC
Updated May 11, 2023 at 6:03 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

TCS Group Holding, the parent company of popular Russian bank Tinkoff, has purchased a majority share in the Swiss-based cryptocurrency startup Aximetria.

  • TCS bought the shares from Aximetria's first investor, venture capital fund fund Digital Horizon, Aximetria spokesperson Dilyara Belyakova told CoinDesk.
  • Aximetria provides crypto trading services to customers, as well as physical debit cards allowing users to pay for goods and services using their crypto holdings.
  • The size of the deal was not disclosed, but according to the filing with the Swiss regulator, TCS owned 4,449 shares of Aximetria, each worth 100 Swiss francs ($108). Given that Aximetria's entire share capital is 534,700 francs ($582,000), TCS's stake is roughly 82%, Russian online publication The Bell wrote.
  • Aximetria secured a license from the Swiss Financial Services Standards Association (VQF) in 2019. The company was founded by Alex Axelrod, who began his career with the Russian telecom giant MTS.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.

Anna Baydakova

Anna Baydakova was CoinDesk's investigative reporter with a special focus on Eastern Europe and Russia. Anna owns BTC and an NFT.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about