Solarium has built its future as a digital payments company by partnering with the Russian state-owned energy conglomerate Rosneft, according to its chief executive.
In a statement issued Friday, Solarium CEO and founder Sergey Vaidyanov said the deal is designed to create the “world’s first” blockchain platform for cryptocurrencies, in part to “enhance its core competency.”
Vaidyan, who said he will leave the company in 2018, said that the agreement was “in line with our long-term vision for Solarium and its customers, which are the world’s leading users of cryptocurrency-based payments services.”
The partnership will also enable Solarium to expand into “the global arena of decentralized autonomous systems,” he said.
Solarium, which was founded in 2005, has raised $3.6 billion in funding from Chinese investors and is a founding member of the $100 billion Singularity University.
Vaidianov also said he expects that Solarium’s future will include “autonomous and blockchain-based products.”
The new partnership will allow Solarium “to provide customers with a digital, secure and fast payment service without the need to hold a financial institution account,” he wrote.
“We are excited to work with Rosnefts, which is building a blockchain platform that will be the cornerstone for our vision of decentralized, decentralized autonomous societies.”
Vidyanov added that the new partnership would “strengthen our relationship with Rosseft.”
The deal was first reported by The Financial Times, which cited a person familiar with the matter.
It was first announced on Friday by Rosnefs chairman Sergei Ivanov.
Vidyaov has previously said that Rosnefskys “central bank” is interested in Solarium.
The company said in a statement that it “will continue to collaborate closely with Roseneft” and has “full confidence in its future.”
Solarium also said it would continue to work closely with the Federal Service for Financial Services (FSFS) in the region, where Rosnefinskys is based, “to build a global ecosystem of decentralized applications and services.”
Vladimir Ivanov, Russia’s deputy prime minister, said in December that he believes the Rosnefays blockchain is “an indispensable part” of Russia’s digital future.
He said it is “not an instrument of financial engineering but of the creation of a decentralized society.”