Russia to collaborate with domestic central securities depository on blockchain

Rage Comment : Russia's Central Securities Depository announced that it will cooperate with China Securities Depository and Clearing Corporation (CSDC) on blockchain trials as part of its cooperation in the field of Internet finance, and signed a memorandum of understanding. (CSDC) representatives also expressed their views on this and called on regulators to actively participate.

Translation: Annie_Xu

Russia’s Central Securities Depositories (CSDs) have teamed up with their domestic counterparts and signed a memorandum of understanding to start collaboration on post-trade blockchain applications.

Russia’s NSD announced that it will “exchange experiences and information” with China Securities Depository and Clearing Corporation (CSDC) on a number of issues. The two institutions will also conduct Internet money technology trials, including blockchain technology testing.

Eddie Astanin

Eddie Astanin, chairman of the NSD executive committee, said that Internet finance and blockchain are among the main areas of cooperation.

“Cooperation in the field of Internet finance is an important element of cooperation with CSDC. We have reached a cooperation intention on the development of blockchain applications in the post-trading field.”

Earlier this year, NSD announced that it would test a blockchain-based voting system to vote directly on the ledger. The technology could allow financial companies to discover new markets and services.

CSDC representatives recently spoke about the technology and called for greater involvement from regulators.