Bitcoin
$66,485.03+0.12%
Ethereum
$3,217.77+0.99%
Binance Coin
$610.19+2.17%
Solana
$157.41+2.10%
XRP
$0.55369749+0.43%
Dogecoin
$0.16120639+0.77%
Toncoin
$5.71-4.22%
Cardano
$0.50406161-2.48%
Shiba Inu
$0.00002710+0.81%
Avalanche
$38.72-1.20%
Wrapped Bitcoin
$66,591.20+0.10%
Polkadot
$7.38-1.26%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
35
DAYS
16
HR
05
MIN
55
SEC
Markets

Russian Payments Firm QIWI Joins R3 Blockchain Consortium

Russian payments firm QIWI has joined the R3 blockchain consortium.

By Stan Higgins
AccessTimeIconOct 14, 2016 at 2:03 p.m. UTC
Updated Sep 11, 2021 at 12:33 p.m. UTC
Group
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

Russian payments firm QIWI has joined the R3 blockchain consortium.

Announced earlier this week, the move is the latest for the firm that made waves earlier this year when it announced its plans to pursue the creation of a digital currency. QIWI has since outlined how it plans to potentially replace aspects of its core infrastructure using the technology, a process that it said could play out over the next five years.

In statements, the company expressed hope that some of the in-house projects it has developed can be applied to some of work being conducted among R3's global banking membership.

QIWI CEO Sergey Solonin was quoted as saying:

"We believe that blockchain projects that we are currently working on can be applied on one of the R3 platforms and have great potential to be favorably perceived by regulated financial institutions."

Launched last year, the R3 consortium has more than 60 financial institutions among its ranks. To date, members have pursued a series of distributed ledger tests focused on areas like trade finance and the exchange of commercial debt.

Image via Shutterstock

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 employees, including journalists, may receive options in the Bullish group as part of their compensation.

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.