The Russian Banks Association has established a cryptocurrency specialist centre. On Thursday, Binance announced its participation in the Russian Association of Banks, with the purpose of improving cooperation with local authorities, legislators, and cryptocurrency specialists. Since its establishment in 1990, the group has grown to encompass over 300 Russian banks and financial institutions, accounting for almost 90% of the country’s banking infrastructure.
Binance has been accepted by the association’s council, which led to creation of a specialised expert centre for digital assets and virtual money. The association’s president’s office council approved Olga Goncharova, Binance’s director in Russia and the Commonwealth of Independent States (CIS), to manage the association’s expert centre.
When introducing Goncharova, Association president Georgy Luntovsky stated that she will be in charge of effective monitoring of digital currency circulation in Russia. Gleb Kostarev, director of Binance’s Eastern Europe branch, believes Binance’s competence in the cryptocurrency industry would be well appreciated by the Russian financial community.
Binance is well-known for its tight collaboration with both state-backed Russian institutions and local blockchain supporters. Binance supplied its nonfungible token (NFT) platform to the Russian State Hermitage Museum in 2021, assisting it in raising approximately $440,000 through an NFT auction of the museum’s tokenized artefacts. Binance executives were also involved in a Russian crypto lobby organisation in 2020, campaigning for the acceptance of the crypto sector.
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