Russian blockchain project raises $1.5 bln

The Russian blockchain platform BitRussia has attracted RUR 100 mio ($1.56 bln) in investment.

The investor, financial technology fund managed by Da Vinci Capital, signed an investment agreement during the FINOPOLIS 2019 forum of innovative financial technologies in Sochi.

The BitRussia project, registered in Russia and Singapore, is a blockchain project for trading digital and financial assets, which also works as a crowdfunding platform for projects to attract investment through the issue of tokens.

According to Oleg Konev, Managing Partner of Da Vinci Capital, the project has “great potential” because it contributes to the development of a new sector of the economy based on new concepts such as digital law, token and stablecoin. Such projects, according to Oleg Konev, enable people to invest in the real sector in a convenient format.

BitRussia CEO Ivan Rodionov expressed the hope that in the near future, Russia will adopt legislation on digital financial assets, which will allow platform users to attract investment based on the issue of securities and hybrid digital rights.

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