FRDF and Chinese corporation has signed a collaboration agreement, according to which an international blockchain center will be built in Vladivostok.
The Far East and Baikal Region Development Fund (FRDF) has signed a partnership agreement with the Chinese corporation Tai Cloud. According to it, they will jointly implement the blockchain-based projects in the Far Eastern Federal District.
Their first project is to establish a financial center in Vladivostok.
Last fall, Russian President Vladimir Putin proposed to establish the financial center in Vladivostok with special conditions for foreign banks. This initiative was supported by the government and the Central Bank, who said the center will be a great opportunity for opening of foreign credit organizations' subsidiaries, and a multi-currency crowdfunding platform and digital assets exchange will be created on its basis.
According to FRDF representative, Tai Cloud has a create experience in development and implementation of modern innovative solutions based on blockchain technology.
FRDF was created to accelerate development of the Far East by attracting investors favorable terms. FRDF actively promotes blockchain-technologies across the country. The Fund participates in various blockchain projects and establishes various related institutions. Recently, FRDF has proposed creation of its own "Crypto-valley" in Russia.