Large Russian Bank’s Subsidiary Launches Crypto for Internal Use

  • Yuri Molchan
    📰 News

    Russia’s Vnesheconombank launches crypto


Large Russian Bank’s Subsidiary Launches Crypto for Internal Use

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 has worked in crypto since 2017. A translator, quickly became a crypto enthusiast. He has worked for several Telegram channels covering cryptocurrencies. Currently is a news writer, covering crypto and blockchain-related topics.

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