In spring 2020 Yandex applied to register 17 trademarks in banking, investment and insurance.
The representatives of the company did not announce the project launch date and noted that Yandex “often registers trademarks or patents, but not all of them will be applied in the future. It is standard practice in big IT companies”, Vedomosti reports.
According to Vedomosti, Yandex does not aim at creating its own bank, and the company plans to launch a financial ecosystem.
At the end of June, Yandex and Sberbank officially announced the separation of joint assets - Yandex.Market and Yandex.Money. The transaction was completed a month later.