Russian Tinkoff Bank claims they are planning a soon to come launch of a so-called 'TinCoin' digital currency, The Cointelegraph reports.
Oleg Tinkov, the founder of the bank, revealed the plans in a Facebook post over the weekend.
“I have a feeling pole position technologically is slipping away from us right before our eyes. Time to release 'TinCoin'… What do you think? We’re almost ready,” he wrote.
Tinkov gave no further details as to the nature or function of TinCoin, but a release would be the first of its kind for a Russian bank.
The country’s official stance towards cryptocurrencies beyond the BitRuble currently under development by the central bank remains contradictory.
As of October 2017, transactions with cryptocurrencies in Russia are not regulated by law.