BelVEB became the first Belarusian bank authorized to deal with cryptocurrencies. DFS LLC — an affiliated company of VEB Technologies LLC and member of the bank’s holding — was recently registered as a new member of the Belarus Hi-Tech Park.
A BelVEB spokesperson told dev.by that DFS manages the Finstore.by platform, where traders can buy and sell tokens. The company has been audited by Ernst & Young and has now become one of three cryptocurrency exchange operators in the HTP.
What we know so far
The operator will issue tokens for both Belarusian and foreign companies. A token is a digital asset stored in a virtual wallet.
Both corporate entities and private individuals will be able to purchase tokens with a fixed return, as is the case with bank deposits, and transfer the dividends to a current account or a bank card account.
Unlike the other two Belarusian digital asset trading platforms, currency.com and iExchange, Finstore.by will not be supporting cryptocurrency trade.
Finstore.by will use its own token — Stable coin — to power future transactions on the platform.
Belwest, a footwear manufacturer and supplier, will be the first Belarusian company to partner Finstore.by in a coin offering project. The platform will offer 63,000 of its digital tokens, which are denominated in euros and Russian rubles. The sale launches on November 1. Finstore.by also plans to issue its own token next month.