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.
Jan 12, 2022 at 4:05 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/WYRDAP2XFJCWZCWDAXWT5TMI6A.jpg)
TCS founder Oleg Tinkov (Bloomberg via Getty Images)
Anna Baydakova is an investigative reporter with a special focus on Eastern Europe and Russia. Anna owns BTC and an NFT.
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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/www.coindesk.com/resizer/Kp7K_kPq5E-t22ZbSPqw4PxH5hQ=/arc-photo-coindesk/arc2-prod/public/PG6NFPSFJVA5ZFDD46E343XSR4.png)
Anna Baydakova is an investigative reporter with a special focus on Eastern Europe and Russia. Anna owns BTC and an NFT.
Learn more about Consensus 2023, 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.
Anna Baydakova is an investigative reporter with a special focus on Eastern Europe and Russia. Anna owns BTC and an NFT.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3MNJYSD775D47CUTFJ4P56QOMQ.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/R5HIJJXVTJBWTE7J6WOBWMJVRM.png)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/4AP55NCGBNCADKTGI5V5AMES7U.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DGBYETJAZVDDDNBIR6MNUD757M.jpg)