The New Digital Horizon for TCS Group
TCS Group, renowned as the owner of the prominent Russian bank Tinkoff, is boldly venturing into the world of digital assets. In a strategic move, the firm has made a significant investment in Swiss service provider Aximetria, marking its first substantial step into the crypto realm.
Details of the Investment
According to reports from local news agency The Bell, TCS acquired 4,449 shares of Aximetria, each priced at an impressive 100 Swiss francs (approximately $108). This investment gives TCS around 83.2% ownership in Aximetria, whose overall share capital stands at roughly 535,000 francs (about $578,000). Definitely not just pocket change!
Tinkoff’s Global Expansion Plan
A Tinkoff spokesperson elaborated on the company’s vision, stating that Aximetria will play a crucial role in the international expansion of the Tinkoff Group. According to them, Aximetria is more than just a crypto service—it’s a compliant financial service positioned within the buzzing digital asset industry.
Aximetria’s Offering
For those curious, Aximetria isn’t your run-of-the-mill crypto exchange. Instead, it presents itself as a financial service allowing users to set up a “Swiss crypto account.” With options for free deposits and withdrawals in euros or U.S. dollars, Aximetria aims to attract global clientele. Think of it as your Swiss army knife for crypto—minus the actual knife!
The Regulatory Landscape in Russia
Despite the increasing interest in crypto investments, Tinkoff has faced steep challenges in launching its own crypto services within Russia. The Bank of Russia has reportedly blocked such initiatives, leaving a glaring gap in the market. Currently, there’s no legal firm in Russia that offers crypto investment, a situation that’s more puzzling than trying to assemble IKEA furniture without instructions.
While the central bank is generally against cryptocurrencies, it may allow citizens to invest via foreign platforms. Meanwhile, Sber, Russia’s largest bank, has taken a leap of faith by launching a crypto exchange-traded fund. This means that even amid a skeptical regulatory environment, there are banks willing to dip their toes into the crypto waters!
