Huobi partners with Russian government bank to expand blockchain technology to the country | eBitcoinics.com

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Huobi partners with Russian government bank to expand blockchain technology to the country

news@eBitcoinics.com 01 Jan, 2019 news.eBitcoinics.com Views: 382

The Singapore-based Exchange, Huobi, recently announced that it has partnered with the development bank controlled by the Russian government Vnesheconombank (VEB), with the aim of helping the European country to adopt blockchain technology.

Recall that on December 6 the Exchange opened its branch in Russia. Its offices are located in Moscow, and will be called Huobi Russia. The new Huobi branch is open 24 hours a day and provides online customer support. It was created specifically to provide guidance to Russian companies that plan to enter the cryptography industry.

Huobi is the third largest Exchange in the world by trade volume. With the opening of its office, it becomes the first important platform of the cryptocurrency industry to have a physical presence in the country.

Huobi's association with Vnesheconombank will reportedly involve working cooperatively on blockchain education and training initiatives. In addition, Huobi intends to work closely with VEB the Center for Digital Transformations they plan to open. This would serve to help Russian companies in other related industries of the digital economy.

Huobi and Vnesheconombank will receive guidance and support from the State Institute of International Relations of the State of Moscow, one of the most prestigious academic institutions in Russia. Elina Sidorenko, head of the cryptocurrency risk assessment working group in Russia, was appointed head of the Huobi Legal Laboratory.

Sidorenko, who is a member of the MGIMO faculty, explained that this legal laboratory was created to ensure that participants in the national cryptography industry do not violate local legislation. Commenting on the importance of developing appropriate regulatory guidelines, Sidorenko said:

" In a situation where the regulatory framework develops more slowly than the digital industry itself, legal support is vital for the business ."

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