Tinkoff Investments to study clients’ access to cryptocurrencies

The Tinkoff Investments broker is potentially exploring projects in the field of crypto assets, but at this stage it is too early to discuss concrete ideas. This, рассказал Dmitry Panchenko, director of the division, to TASS.

He said that at present brokers are legally unable to offer this service.

“The market is in a stage of research and development for a range of instruments, with some new business ideas.”

Panchenko added that they are currently studying the experience of Robinhood, Revolut and PayPal.

Independent estimates put Russians’ assets on crypto exchanges above $15 billion, the director of Tinkoff Investments said.

“People are, one way or another, receiving this service, and they receive it outside the country. Potentially it would be right to offer this service within the Russian market. For now, it is legally impossible, but the topic should be discussed and studied more deeply,” Panchenko explained.

The executive added that it is in brokers’ interests for cryptocurrencies to be available to investors alongside stocks, bonds and other investment instruments.

“We see demand not for use as a means of payment or for moving assets, but precisely as an investment instrument for investments and potential profit,” he said.

In June, the president of Tinkoff Bank, Oliver Hughes, said they were ready to provide clients with the ability to trade cryptocurrencies, but the hard stance of the Central Bank of Russia toward assets stands in the way.

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