Moscow Exchange Central Depository to create cryptocurrency platform

The plans of the National Depository Center (NDC) to provide a service platform for cryptoassets became known to public thanks to the Kommersant business daily and its sources. The NDC serves as the central depository for the Moscow Exchange; it is the largest accounting body in Russia.

The NDC’s plans include the setup of several blockchain services and of the so-called ‘bridge’ between cryptoassets and the payment system. As it became known to the source, the future platform will have the following features: the digital assets accounting via token ownership certification, the token deal settlement, the identification of cryptocurrency wallet owners and the storage of cryptocurrency private keys. It is not unlikely that we will also see the establishment of cryptoassets assessment service with the market data from the world’s major cryptocurrency exchanges as a basis. According to the information provided by the sources from financial tech sphere, the project development will be conducted by the Waves company, the representatives of which have confirmed this to be true. The first results of the development will be ready for presentation on September 2017, as the company declares.

The NDC has not yet described any specific plan, stating that the organization is currently studying the prospects of this trend in the light of the regulator’s initiatives. Apart from this fact, the National Depository Center explained that the minimization of cryptoasset risks requires the update of the legislation.