Yandex.Money CEO: Crypto money not to replace fiat money soon - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Yandex.Money CEO: Crypto money not to replace fiat money soon

MOSCOW, Mar 19 (PRIME) -- Cryptocurrencies will not replace fiat money or banking cards any time soon, Ivan Glazachev, general director of Russian online payment service Yandex.Money, said on March 17.

УI donТt believe that cryptocurrencies will shortly stand in line with fiat money or banking cards in settlements because of the fact that for such daily settlements, the prime cost and speed of transactions are too high with cryptocurrencies,Ф Glazachev said.

Yandex.Money as a payment provider will be ready to handle operations with cryptocurrencies as soon as the central bank legitimizes them. In the coming years, cryptocurrencies will be wider used by professional market participants. УThe technology will find its place in the sphere of savings and investment,Ф the executive said.

Russia is an advanced country in terms of payment services. People are ready to spend more and more money in the Internet.

УThe amount of an average online payment is rising -- s payment experience widens, confidence in e-payments grows, this is why users are ready to spend more and more in the Internet,Ф Glazachev said.

An average check in Russia in the pre-holiday period spiked 85% in 2018 on the year.

The smartphone will be a universal means of payment until microchips are implanted into human bodies, Glazachev said.

УIf we dream a bit, an alternative to the smartphone could be a technology liberating us from the necessity to use anything at all to transfer information and payments, a kind of a chip implanted into a human body,Ф he said. УSince there are none as such, the smartphone is versatile, and the future belongs to it.Ф

Despite experiences with other payment devices, like rings or bracelets, the smartphone is more popular since it has online and offline payment technologies.


19.03.2018 09:56
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 77.9069 +0.1215 28 may
USD 71.0635 -0.0773 28 may
Stock Market Indices
1D 1W 1M 1Y
rtsi 1221.21 +0.74 10:08 28 may
micex 2750.49 +0.35 10:08 28 may
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 194.73 -1.08 18:49 27 may
lkoh 5352.50 -1.70 18:49 27 may
rosn 374.90 +0.13 18:49 27 may
sber 198.51 +2.32 18:49 27 may
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 78.2900 +0.4950 14:59 28 may
USDTD 71.2825 +0.6625 17:44 28 may