- One of the founders of neobank Monobank spoke about his attitude to cryptocurrency.
- Mikhail Rogalsky said that the company’s management does not want to jeopardize the business by working with high-risk assets.
Monobank has no plans to integrate bitcoin as a means of payment. Mikhail Rogalsky, co-founder of the company, told Forbes in an interview.
“There are several reasons for this. One of the main ones is that bitcoin has a bad reputation among regulators, both in Ukraine and Europe. We cannot risk our core business by working with such assets,” he emphasized.
According to Rogalsky, the future of this asset class in Ukraine remains uncertain. In addition, the co-founder of Monobank does not consider cryptocurrencies to be a more efficient financial instrument compared to fiat.
In his opinion, the only advantage of digital assets is the ability to bypass certain restrictions of supervisory authorities:
“I do not think that bitcoin will ever be in free circulation in Ukraine. Historically, the NBU carefully regulates the currency market, and I can’t even imagine how it will deal with cryptocurrency.”
We previously covered an interview with Monobank co-founder Oleg Gorokhovskiy. Unlike Rogalski, he has a more positive attitude toward cryptocurrency, and even invests in bitcoin himself.
In 2021, the bank announced the issuance of a cryptocurrency card. However, the project was later frozen as it did not receive approval from the National Bank of Ukraine.
With regard to the regulatory framework for digital assets in Ukraine, Incrypted has prepared for you an exclusive on the risks of MiCA implementation: