Waves platform has just signed a partnership with the Russian National Settlement Depository (NSD) for the Moscow Stock Exchange to develop a new blockchain platform for trading digital assets including cryptocurrencies and tokenized assets. The Moscow Stock Exchange has a market cap of $635 billion USD (December 2016) and they are hoping to build a bridge to the $90+ billion cryptocurrency market.
Many people may not know just how many Russian citizens, ex-patriots, companies and corporations own large cryptocurrency portfolios and assets, but the Moscow Exchange is trying to capitalize on this new breed of entrepreneur and create a new entry point to their market. This is a new investment market niche and they are looking to exploit it before someone else does.
Waves CEO, Sasha Ivanov, has said that the project will not be difficult to accomplish and his team has already started working on a prototype. They are working on a first release by September! I can't imagine how many resources the Waves team is dedicating to this project and to roll this thing out by September, but it is very impressive.
Ivanov is more concerned about the lack of legislation and oversight in this new venture, however, he is a connected Russian businessman. He regularly attends financial conferences and is one of Russia's most prominent figures of the financial world. He is often seen socializing with Russia's top banking officials and CEO's. Considering the Russian government’s recent interest in cryptocurrency, it would not surprise me to see the Russian senate pass some new laws to help regulate this new emerging market very soon. Love him or hate him, when Putin wants something done, it gets done!
This is awesome news for all Waves holders out there and the market has already noticed the news since Waves is one of the few coins showing gains in the current blood red market. I hate to try and predict prices, but I would not be surprised to see some substantial gains coming in September when they show off their prototype.
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Moscow Image Source: Moscow Exchange
Crypt0.Critic Images: CleverCat
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