Calay News
A sanctioned Russian banker, Oleg Tinkov, has been filmed boasting about his new fintech project in Mexico. Tinkov, who was charged by the US Department of Justice in 2020 with evading taxes on more than $1 billion of income, has been under house arrest in London awaiting extradition to the US. Despite this, he has launched a new venture in Mexico called Tinkoff Bank MX, which aims to offer a range of financial services, including loans and credit cards, to Mexican consumers.
Tinkov’s new venture has raised eyebrows given his legal troubles, which have led to his assets being frozen and his bank, Tinkoff Bank, being sold to Russian lender Yandex for $5.5 billion. However, Tinkov seems undeterred, as seen in a video he posted on his Instagram account in which he boasts about his new project and calls it “the biggest fintech launch ever.”
Tinkov’s involvement in the project has sparked controversy and led to questions about how he is able to launch a new business while under house arrest and facing serious criminal charges. However, Tinkov has stated that he is not involved in the day-to-day operations of the new venture and that he is merely an investor.
Despite the controversy surrounding Tinkov, Tinkoff Bank MX has already gained a significant following on social media, with more than 10,000 followers on Instagram and over 60,000 followers on Twitter. The company’s website also boasts a range of innovative features, including a virtual assistant and a mobile app that allow customers to track their spending and manage their accounts.
Tinkov’s new venture is just the latest example of how fintech is disrupting the traditional banking industry, particularly in emerging markets like Mexico. With its focus on offering innovative and affordable financial services to underserved consumers, Tinkoff Bank MX has the potential to become a major player in the Mexican market.
