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Established 1995
Tuesday 11 December 2018


Russian bank opens tech research hub

Written by Chris Lemmon

Russian state-owned development bank Vnesheconombank (VEB) has collaborated with several government ministries to launch a new research facility focused on blockchain and other technologies.

The new centre will be based at the National University of Science and Technology in Moscow, and will form part of a wider digital push from the Russian government. The government offices which are participating with the programme are the Ministry of Economic Development, the Ministry of Finance and the Ministry of Communications and Mass Media.

The research facility will help the bank to work closely and invest in blockchain projects, while beginning to develop blockchain-based products and services.

Sergei Gorkov, chief executive of VEB, commented: “In September, we will open the first centre focused on blockchain, convergent, and quantum technologies at the National University of Science and Technology. We plan to create a group of investment funds with external financing from both Russian and foreign investors.”

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