Russia’s NSD supports iCoinSoft trading platform in developing blockchain solutions

Russia’s National Settlement Depository (NSD) has partnered with iCoinSoft exchange platform to develop a “boxed blockchain” solution for creating and issuing crypto assets.

Russia’s cryptocurrency ecosystem may have grown accustomed to the regulation of digital currencies. Governments around the world have mixed opinions on Bitcoin and other digital currencies, but one thing they are all very optimistic about is blockchain technology.

The development of the blockchain technology industry has entered a new milestone since banks and financial institutions formed an alliance to establish rules based on blockchain applications. In a recent major event, Russia's central securities depository, the National Settlement Depository, hopes to apply blockchain technology in its operations. To achieve this goal, NSD signed a cooperation agreement with iCoinSoft trading platform (iCoinSoft is a Russian whitelisted cryptocurrency exchange solution provider).

Under the partnership, iCoinSoft will create a “boxed solution” for developing and circulating digital assets. It is said to be part of the HSE FinTech project at the Higher School of Economics business incubator. The “boxed solution” created by iCoinSoft and NSD will support existing cryptocurrency assets or those that are about to be released.

Artem Duvanov, head of innovation at NSD, said in the business publication:

“HSE’s business incubator has created a great platform that helps fintech beginners implement their industry ideas after gaining experience and professional technical support from large companies. Supporting young fintech teams is our strategic work, and the iCoinSof project that NSD has chosen to guide has the opportunity to become an important platform for providing technological solutions in the financial field of the global market.”

The iCoinSoft platform is expected to reduce the time it takes for new platforms to enter new markets to two weeks, while other platforms may take months. With the help of the NSD, Russian financial infrastructure and iCoinSoft will gain more advantages from cryptocurrency technology.