TCS Group Holding, the parent company of Tinkoff Bank, acquired a controlling stake in financial services Aximetria amid the interest of Russian clients in cryptocurrencies and the tough position of the Central Bank of the Russian Federation.
The fact that TCS Group became the owner of the Swiss Aximetria GmbH specializing in cryptocurrencies was first reported by The Bell. Oleg Tinkov’s group later confirmed this information.
The official website of the Swiss service reported that it “is part of the international infrastructure of TCS Group Holding.” Aximetria reports that the deal was closed on November 9, 2021.
TCS Group became the owner of 4,449 shares of the company, which are now quoted at 100 Swiss francs (about $ 108) per share. The total share capital is CHF 534,700 ($ 579.2 thousand). It follows that the owners of Tinkoff Bank control 83.2% of Aximetria GmbH.
“Aximetria will develop as part of the international expansion of the Tinkoff Group in compliance with all the requirements of the jurisdictions of international presence. The details of the transaction will be disclosed in accordance with the accepted standards of disclosure in the Group’s annual reporting, ”Tinkoff Bank said.
TCS Group made it clear that although digital assets are in demand among bank clients, there is no solution yet on how exactly the need of private investors can be satisfied, primarily due to the position of the Central Bank of Russia, which has sharply criticized cryptocurrencies.
Aximetria GmbH was one of the first to receive a license from the Swiss Financial Market Supervision Authority (FINMA) to work with cryptocurrency and fiat transactions.
The founder of Aximetria, a former employee of MTS and AFK Sistema, Alexey Axelrod, created the service in 2017 together with the investment company Digital Horizon, which invested $ 120,000 in the project. The service was launched in 2018.
Although Aximetria representatives do not disclose the details of the agreement with TCS Group, they clarify: as a rule, in the Russian market, the Digital Horizon investment company invests up to $ 2 million in portfolio projects and owns a 70-80% stake.
In October 2021, the Russian broker Tinkoff Investments announced that it was eyeing projects related to crypto assets. At the end of the year, Tinkoff Bank began to request information from clients about transactions with cryptocurrencies.
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