Large Russian Bank’s Subsidiary Launches Crypto for Internal Use

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Yuri Molchan
Russia’s Vnesheconombank launches crypto
Large Russian Bank’s Subsidiary Launches Crypto for Internal Use
Cover image via U.Today

The Digital Transformation and Blockchain Center belonging to the Russian Vnesheconombank has emitted VEB coins, as reported by the managing director of the Blockchain Center, Nikita Podstavkin.

The coins are not made to be mined, they are to be used for accounting customers’ funds and paying for services in the Blockchain Competence Center – e.g., booking meeting halls, renting working desks with equipment, etc

Podstavkin also mentioned that the coins will also be used in different loyalty programs in the future.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.