Russia’s Megafon to Create Fintech-Oriented Joint Venture with Gazprombank, Rostec

Megafon, the second largest mobile phone operator in Russia, announced that it would initiate a joint venture with Gazprombank, Rostec, and USM Holdings, to deploy digital projects, including those related to blockchain. The new company, called MF Technology, will help the partnering companies unite their expertise in various industries, like telecommunications, IT, financial services and high-tech industries, to enter new markets with innovative products. One of the most important projects of the partnering companies is the development of a digital financial platform that will be used by the parties to provide high-tech services related to payments, credits, and other digital products.

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