Developments

The leading bank in Belarus is considering a crypto exchange in 2019

The leading bank in Belarus, Belarusbank, has set its eyes on a crypto exchange in 2019 as noted by the bank’s board chairman.

Viktor Ananich, the chairman, noted that launching a crypto exchange in 2019 is a possibility that the bank is considering. The chairman continued to note that digitization is among a key focus this year.

In Ananich’s words:

“Digitization-related projects will be virtually exclusive in nature. However, at present things are changing very fast and we need to keep up with them.”

More than launching a crypto exchange in 2019, Belarusbank has developed a close working relationship with companies offering mobile services which will help it develop and issue a digital representation of a physical credit card in the near future.

Belarusbank leads other financial institutions in the country in terms of volume of equity, loans, deposits, and loans. The bank’s controlling block is held by the Republic of Belarus under the State Property Committee with individuals holding less than 0.02 percent of the shares.

Notable customers of the bank include Gazprom Transgaz Belarus and the Belarusian Oil Company.

In the recent past, Belarus has been welcoming crypto and blockchain companies by developing inclusive and positive regulations towards the blockchain and crypto space.

In mid this month, a Belarus-based company focused on putting ordinary shares on the blockchain started its operations.

The company which is backed by Larnabel Ventures and VP Capital said it would, in addition to offering a crypto exchange in 2019, also allow crypto enthusiasts to buy ordinary assets using crypto since it will:

“Release over 10,000 tokenized stocks assets which makes it the world’s first of its kind.”

Do you think positive crypto regulations in Belarus have largely contributed to the increase in the number of crypto-related firms setting up in the country?

Let us know your thoughts in the comments section below.

coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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