Ethereum Foundation partners with Russian Bank

Ethereum Foundation announces its partnership with Russian Vnesheconombank (VEB)
30 August 2017   2159

Ethereum foundation and Russian Vnesheconombank (VEB) have signed a partnership agreement. The ceremony took place at the "Blockchain: The New Black Gold of Russia" conference. The document was signed by Ethereum foundation founder, chief architect of Ethereum platform Vitalik Buterin and Vnesheconombank Chairman Sergey Gorkov.

As reported, the agreement focuses on a long-term and effective partnership in the implementation of the projects using distributed registry technology and the Ethereum platform, the formation of an expert community on the Ethereum platform, and the joint development and the implementation of the educational programs for training specialists in distributed registries and the Ethereum platform based on Vnesheconombank's Blockchain Competence Centre.

The Centre aims at accumulation of the competencies and knowledge about innovative technologies, development of the platforms for government organizations, training and popularization. Thus, Russia is becoming an important player in the development of blockchain industry in the world.

We unite the efforts of all the interested parties and create the first Competence Centre in Russia for state companies and authorities, forming an ecosystem of the innovations. Both Russian developers and world leaders will contribute to the project. We are pleased to add Ethereum foundation's experience and expertise to VEB's knowledge.

Sergei Gorkov
Vnesheconombank Chairman

The partnership hopes to help foster a community of Ethereum experts within Russia and to assist the formation projects based on Ethereum and other blockchain.

Cooperation between Ethereum and VEB gives a unique opportunity to engage in research and development on the use of blockchain technology for public administration and accelerate the adaptation of this technology to government organizations in the Russian Federation.

Vitalik Buterin
Ethereum founder

Thus, the partnership seems to be a part of a series of steps that Russia are taking towards blockchain implementation nationwide.

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   559

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.


Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.


Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.