TCS Group Holding, the parent structure of Tinkoff Bank, has bought a stake in Swiss crypto exchange Aximetria, The Bell reports, citing company documents.

The documents show that on November 9 last year TCS Group bought 4,449 shares of the company at 100 Swiss francs each (about 36 million rubles in total), and the total share capital of the company amounted to 534,700 Swiss francs.

On this basis, TCS Group’s stake in the company could amount to 83.2%. How Tinkoff will build its crypto business is not yet known. But back in the summer, the head of the group Oliver Hughes said that although cryptocurrencies are a popular investment tool for investors, the bank has no mechanism to offer them this product in Russia, because the Central Bank has a very tough stance on this issue.

 Aximetria is one of the first companies to receive authorization from FINMA (Swiss Financial Market Supervisory Authority) to process cryptocurrency and fiat transactions.