Russian Payments Giant Qiwi Acquires Blockchain Startup

NEWS
Stan Higgins
May 16, 2017 at 10:00 UTC  |  Updated  May 16, 2017 at 10:11 UTC

Russian payments firm Qiwi has reportedly acquired a blockchain startup as part of its plan to offer services integrating the technology.

According to state news service TASS, the startup, called Inspirasha, was purchased for an undisclosed amount. Although not much information exists publicly about the firm, business registration records point to a company with that name that works in the computing space.

In translated statements, Qiwi told TASS that the acquisition will boost its existing blockchain efforts.

QIWI, which made waves in 2015 for proposing a commodity-backed cryptocurrency later labeled the 'BitRuble', has since moved to integrate blockchain internally, as well as set up a subsidiary devoted to the tech earlier this year.

Cellphone image via Shutterstock

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