The Russian state-owned bank, Vnesheconombank will open a special research center focused on blockchain in September.

The center will be based at the National University of Science and Technology in Moscow. The launch of the center came at the request of President Vladimir Putin, according to reports.

According to reports, VEB chief executive Sergei Gorkov said at the research center’s launch:

In September, we will open the first centre focused on blockchain, convergent, and quantum technologies at the National University of Science and Technology (MISIS). We plan to create a group of investment funds with external financing from both Russian and foreign investors.

This week, Russia has been particularly active in the blockchain and cryptocurrency space. On Tuesday, Bank Innovation reported Russian Deputy Finance Minister’s suggestion that bitcoin trading be limited to only qualified investors.

Read more about Russia’s blockchain research center at Finextra and Finance Magnates.