MTS bought a stake in a Russian blockchain company

In the second half of last year, MTS bought 38% of the shares of the Russian company Factorin LLC, increasing the total investment in this project to 88%. Factorin is developing a blockchain for financial trading operations. Interfax writes about this.

MTS bought a stake in a Russian blockchain company

In July 2021, MTS, together with the investment firm Digital Horizon, acquired 51% of the shares of Factorin LLC for a total amount of 867 million rubles. The financial statements of the telecom operator indicate that all these funds are an investment in a joint venture.

According to last year's report, in August MTS bought another 24% in Factorin for 433 million rubles. Later, in October, the operator acquired an additional 14% for 229 million rubles. Thus, MTS' share in the joint venture increased to 88%.

In September last year, the mobile operator began placing the first issue of digital bonds among individuals. The annual rate was 11%, and the placement took place on the Finuslugi platform. It was created by the Moscow Stock Exchange.

The term of circulation of MTS digital bonds for 3 billion rubles is three years.

All funds received from the placement were directed to the development of digital products in the operator's ecosystem. In addition, the management promised to invest them in the modernization of infrastructure in all regions of Russia.

In the summer of 2023, the Bank of Russia included MTS subsidiary Blockchain Hub in the register of Information System Operators (OIS). Since then, the company has been releasing digital financial assets (CFA) on the CFA Hub site, developed jointly with Factorin.


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