A Day with a Russian Billionaire
Russian billionaire is ready to spend $ 15 million to create a DeFi bank
Russia has been chosen as a launching pad for DeFi-bank
The project partner stated that the responsibility for the purchase of cryptocurrencies rests with the users themselves.
Cryptobank will be managed from Switzerland
Billionaire Andrei Lebedev announced his intention to open the first bank of decentralized finance in Russia, despite the lack of clear regulation of the cryptocurrency industry in the country
The owner of the British newspaper Independent and ex-head of the National Reserve Bank, Andrey Lebedev, intends to launch the first bank of decentralized finance in Russia (DeFiDecentralized finance (DeFi) – this is financial services, built on blockchain technology, which offer users access to open, efficient and … More). Lebedev himself said this in the author’s column for Novaya Gazeta.
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Together with partners, including the founder of the Garantex crypto exchange Sergey Mendeleev, Lebedev plans to invest at least $ 10-15 million in the project. The project is scheduled to launch in the coming months.
An important part of the financial system
The project called Independent Decentralized Finance Ecosystem (InDeFiEco) will provide cryptocurrency holders with a different range of services, namely: crypto loans, earnings on deposits, asset management, complex financial products based on cryptocurrencies.
“Cryptocurrencies, which 10 years ago were perceived as a joke and a toy, today are an important part of the international financial system,” Lebedev writes..
They plan to attract customers “not so much with high rates as with reliability and a wider range of services,” Lebedev said in an interview with RBC.
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Despite the fact that Russia has been chosen as a launching pad, a Swiss subsidiary will manage InDeFiEco. At the same time, Mendeleev noted that the legality of buying cryptocurrencies in a particular country is beyond the competence of the project..
Under close supervision
The network is still skeptical about the billionaire’s idea of launching a DeFi bank in Russia, given the current uncertainty around the regulation of the crypto market.
Despite the adoption of the law “On digital financial assets“, The issue of regulation of virtual assets is still to be resolved by the State Duma in the autumn session.
Separately in Russia, the cornerstone is the development of the decentralized finance market. The catch is that all public blockchain projects in Russia must obtain permission from the Federal Security Service before launching a project..
Globally, Russia is trying to force the cryptographic community to adopt its own encryption algorithm as a standard. At the same time, Russia itself does not know whether to legalize or prohibit the circulation of cryptocurrencies..
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