Owner of Russian bank Tinkoff acquires Swiss digital asset firm
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Owner of Russian bank Tinkoff acquires Swiss digital asset firm

The owner of Russian bank Tinkoff acquires Swiss digital asset firm Digital Asset Holding. The move could be a signal that banking companies are becoming more comfortable with the idea of cryptocurrencies and blockchain technology.

The “tinkoff bank” is a Russian bank that has been acquired by the owner of Tinkoff, which is a Swiss digital asset firm.

The significant private Russian bank Tinkoff’s owner, TCS Group, is becoming more exposed to digital assets.

According to local news outlet The Bell on Wednesday, the corporation has invested in Swiss digital asset service provider Aximetria, which is slated to become its first significant crypto-related organization.

The article claims that TCS bought 4,449 Aximetria shares for 100 Swiss francs ($108) each, according to information from Aximetria. The journal estimated TCS’ holding in Aximetria to be roughly 83.2 percent, based on the company’s entire share capital of around 535,000 francs ($578,000).

Aximetria will “be part of the worldwide growth of Tinkoff Group in conformity with all the requirements of the jurisdictions of foreign presence,” according to a spokesman for Tinkoff who confirmed the news to Cointelegraph.

Aximetria is “not a crypto exchange,” the spokesman clarified, but rather a “financial service in the digital asset business.”

As of the time of writing, information on Aximetria’s affiliation with TCS may be found on its home page. Users may create a “Swiss crypto account” with Aximetria, which offers free deposits and withdrawals in euros or dollars. The portal claims to have a global clientele.

Aximetria as a source

Tinkoff has struggled to provide cryptocurrency investment services in Russia despite the country’s surging demand for such investments, as the Bank of Russia is said to have prevented the business from introducing its own set of similar services. As a result, there isn’t a single legitimate organization that is established in Russia and provides cryptocurrency investing.

The central bank’s animosity for the cryptocurrency market and Bitcoin is well-known (BTC). However, it apparently intends to let individuals to use international platforms to invest in cryptocurrencies.

Related: The biggest bank in Russia has difficulty registering its digital asset platform

The biggest bank in Russia, Sber, established a cryptocurrency exchange-traded fund in December, mirroring significant crypto investment businesses and exchanges like Coinbase and Galaxy Digital, despite the continued strict attitude of local authorities. Previously known as Sberbank, the government-backed company had plans to open a cryptocurrency exchange in 2018 via its Sberbank Switzerland affiliate.

The “aximetria review” is a Swiss digital asset firm that has been acquired by the owner of the Russian bank Tinkoff.

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