Russia's Central Bank Adds Blockchain-Friendly Firm to FinTech Working Group
Russia’s central bank is continuing to grow its blockchain footprint.
Russia’s central bank is continuing to grow its blockchain footprint, having announced the creation of a new FinTech association focused in part on studying the technology.
on 28th December, the group includes representatives from major Russian banks including Alfa Bank, Sberbank and VTB, among others. Payments processor Qiwi and the National System of Payment Cards (NSPK), which operates Russia's nationwide Mir charge card, are also on board.
In addition to blockchain, the Bank of Russia said it would also be investigating identification technologies and new payment system frameworks through the association.
The bank's deputy governor Olga Skorobogatova said in a statement:
The announcement is the latest signal that the Bank of Russia intends to play a leading – and visible – role in the experimentation and deployment of blockchain within the country’s financial sector.
In recent months, the Russian central bank has been undertaking a hands-on education into the tech, unveiling a system for financial messaging dubbed “Masterchain” in October.
The Russian government, too, has been exploring blockchain concepts of its own, while its national securities depository has launched similar efforts in conjunction with other institutions.
Image Credit: E. O. / Shutterstock, Inc.
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