Cryptocurrencies have easily become the most popular asset to invest in of the current day. While people initially had their doubts about the new type of asset, they eventually turned over to the side of cryptocurrencies. And with thousands of investors joining the market every day, companies realized that they can profit extensively from this new asset. And one of the newest companies to start working with cryptocurrencies is the leading Neobank in Russia, Tinkoff.
The bank’s broker portal, better known as Tinkoff Investments, has started to turn its sights towards cryptocurrencies. Dimitry Panchenko is currently leading the company and is the one who proposed the plan in the first place. After seeing how profitable these types of markets can be, he has also considered just how these types of sectors allow development and research to flourish.
Furthermore, in an effort to better understand the market, Tinkoff has also been monitoring how well it has been doing. From its rise to glory to even its current state, the firm now has a fairly intimate understanding of the crypto market. The top executive also talked about how Russia was not experiencing the same type of revolution.
He said that countries like the US have Robinhood and Paypal, both companies which have invested heavily in cryptocurrencies. In fact, PayPal very famously allowed its users to trade in cryptocurrencies through the same app. This allowed them to make their already incredibly diverse selection of apps even better.
The director also pointed out just how popular cryptocurrencies in the country were. Total investments made into crypto from Russia equate to over $15 billion, which is much more than most people would expect. And given that most investors have to stretch so far out of their comfort zone to invest in them in the first place shows that there is a growing appetite for cryptocurrencies. He also believes that this number can increase by a significant margin if people had proper access to the tools necessary to trade.
Dimitry believes that the government should allow local companies to start working in the crypto field. Because regardless of what the government thinks, people clearly want to invest in cryptocurrencies. And if they do so with the help of local companies, it can fuel the economy.
Even recently, Putin acknowledged cryptocurrencies as a method of payment, but still did not share his thoughts on making it a legal tender in Russia. And even investors within the country do not see much of a point in using it as a payment method. Instead, they would like to use it as an asset class alone. And after carefully considering all of these factors, Tinkoff will be releasing their own crypto service soon.