Qiwi plans blockchain consortium of Russian banks

Announcements | June 2, 2016 By:

Qiwi is planning to create a blockchain consortium with Russia’s largest banks as its members.

QIWI intends to develop standards for the application of blockchain technology among banks. Largest Russian banks to join the consortium include, the Savings Bank, BIN-Bank, Alfa-Bank. The Russian startup QIWI has given invitation to these banks.

Dmitry Kashtanov, head of digital business at Binbank, says it has received an invitation from Qiwi to join the consortium. The other banks declined to comment.

Kashtanov says the bank is “discussing the possibility of joining the consortium in facilitating the joint common interests of banks, rather than the separated disparate views of the market”.

Qiwi is a publicly traded Russian payment service provider.