Tinkoff Investments – – the online brokerage website of the Russian bank Tinkoff – – could turn its sight towards the digital asset market due to increased client demand. Nevertheless, the institution’s director Dmitry Panchenko added that the idea is still at its early phases as Russia doesn’t have the most crypto-friendly legislation.
Following The Evolution
According to the local media TASS, Tinkoff Investments might enable cryptocurrency services to its clients quickly. The head of the business – – Dmitry Panchenko – noted that the digital possession sector is a new technology where research and development grow. The magnate added that the organization monitored this growth and longed for a various landscape in the Russian Federation.
“We are taking a look at what remains in the world and what is taking place in Robinhood, Revolut, PayPal. We see this development, however in Russia, this is not occurring.”
The director stated the volume of Russian possessions on cryptocurrency exchanges is over $15 billion, meaning that residents have been revealing growing hungers for digital assets even if they have to stretch outside the borders of their homeland. As such, the government should license local financial provider to provide products including bitcoin and some alternative coins:
“In one method or another, people get and receive outside the country. Possibly, it would be appropriate to carry out this service in the Russian field. So far, this is not possible lawfully, but the topic needs to be discussed and studied more deeply.”
Russians are not happy to use the asset class as a payment method. They see it as an “instrument for financial investments and potential revenue,” Panchenko concluded.