Several investors have expressed interest in establishing a crypto bank in Belarus. This was stated in an interview with Belarusian television by Dzmitry Kaliechyts, First Deputy Head of the Secretariat of the Supervisory Board of the Hi-Tech Park. The decree on crypto banks will come into force on July 18. Even before its implementation, however, the HTP’s crypto residents had already attracted up to 500 million Belarusian rubles.
“Indeed, several investors have already expressed their interest in launching a banking project, including both our domestic investors, investors from the Eurasian Economic Union countries, and investors from countries outside the region. We hope that, given the steps being taken by the state and by the Hi-Tech Park, all these plans will be implemented as early as this year,” he said.
According to him, the park’s crypto residents have already attracted around 500 million Belarusian rubles from Belarusian citizens.
“Our crypto sector performs the function of financial intermediation, essentially complementing traditional finance. More than a quarter of a million of our citizens are already clients of our crypto residents. Around half a billion Belarusian rubles have already been accumulated there.
In other words, the investment and savings function performed by our residents for our citizens has already reached a considerable scale. More than 200,000 clients are non-residents of our entities, our crypto residents, who also keep significant volumes of their savings and assets in our country with our crypto residents. These resources, in turn, contribute to our economy,” he said.
The Hi-Tech Park currently has 26 registered crypto residents, including 10 exchanges, 13 brokers, two ICO operators, and one crypto exchange service. Following the latest meeting of the HTP Supervisory Board, three more companies were admitted as crypto residents.
“Turnover is growing, and it is growing quite rapidly. I would even say exponentially, because it was last year that a significant number of new crypto residents appeared, and the number continues to increase this year. We expect that this year’s turnover could be one and a half to two times higher than last year’s,” he said.
