Cryptocurrency Will Become Available for the Most Part of the Population of Russia

St. Petersburg Social Commercial Bank (SPSCB) and MyWish plan to start a joint project following the decision of the Central Bank concerning cryptocurrency regulation. The project will open new opportunities for managing crypto assets in various real situations.

The development and popularization of the blockchain industry create a demand for the development of services for owners of cryptocurrency. SPSCB is aware of the scale of the trend appeared and the importance of applying innovative technologies for the development of both its own service and the banking sector as a whole.

The Bank implements a mechanism with the help of which MyWish’s users have the opportunity to transfer fiat funds to beneficiaries within the implementation of Smart contracts, such as testaments, marriage contracts, gifts, etc.

A Smart contract is a program that allows automatically transferring cryptocurrency when applying certain terms and conditions.

An owner of cryptocurrency creates a Smart…

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