“Cifra Broker” created a crypto platform in Belarus

The platform page states that ITES DeFi LLC is the operator of the platform. Tsifra became the founder of this partnership in February 2023. (In the same month, Timur Turlov’s Freedom Holding closed a deal to sell Russian assets.)

Tsifra’s stake in ITES DeFi is 85%, according to investment company reports, the owner of another 15% is not specified. The documents indicate that Tsifra invested 109 million rubles in the authorized capital of this LLC.

On this site, it is indicated that it is possible to trade highly liquid cryptocurrencies and tokenized assets there. In particular, operations with BTC, ETH, Tether and trading on the OTC market and the market of tokenized assets are available.

ITS DeFi provides “a full range of services for ICOs and a list of tokenized assets,” the website says. You can connect to trading in crypto-broker and investor mode.

As a broker representative previously told the publication, the company created ITES DeFi “as part of an international development strategy that envisions building partnerships in friendly jurisdictions.”

Sources from the publication spoke about plans for the development of a crypto platform based on ITES DeFi with the support of the St. Petersburg exchange. RBC also wrote about this.

The SPB exchange provided the new Kazakhstan ITS exchange with its technologies and business model for trading foreign securities. As part of this project, the former owner of Tsifra cooperates with the St. Petersburg Stock Exchange.

According to Frank Media sources, in addition to trading cryptocurrencies, the partners were going to launch DeFi on ITS and trade CFA-wrapped mortgage-backed securities. But with the implementation of this idea, difficulties arose.