Russia Blockchain Startup Wants to Invest $1 Billion in ICO Projects

Russia Blockchain Venture Fund, known as

FinShi Capital, announced that they will invest $1 billion in ICO-related projects.

In a press release yesterday, the venture funds syndicate announced that it has raised$1.3 million in funding ahead of the ICO campaign, and plans to raise an additional $50 million next October.

Targeted investors are Russia’s “ Silicon Valley” member Skolkovo. The project has already received the necessary approval by the Russian Blockchain and Cryptocurrency Association (RABIK), founded by Putin and his advisor Herman Klimenko.

According to the press releases:

<

“The allocated fund will be used both to increase the commercial venture of ICOs and to encourage the residents of Skolkovo. The fund is supported by miners and RABIK. It was created to support potential ICO investors.”

The fund is optimistic about the possibilities. Based on preliminary estimates, it is claimed that the profit rate should be above 520%.

Meanwhile, RABIK opposed the call of the Deputy Minister of Finance of Russia Alexei Moiseev to impose a ban on everyone except qualified investors. explained its stance.

“Our newly established association does not defend the same opinion on this issue. Our association believes that this issue should be on the agenda of the dialogues about the regulations.” commented

“For example, owners of crypto assets and non-investors can enter the new union.”

Join our Telegram channel to stay up to date with all developments and posts!
Electronic Money and Payment System from Akbank