In July 2021, Yandex bought the bank and financial services company – Acropolis, and has now unveiled a rebranding, and renaming.
Henceforth, Acropolis will be known as Yandex Bank.
Yandex applied to register Yandex Bank as a trademark in mid-September 2021, you can read about this here, along with a number of other trademarks registered in relation to financial services and products.
According to market analysts, Yandex, which has a cash reserve of more than $3-billion, will become a virtual bank based on the infrastructure of a real bank.
This news comes almost a year after Yandex attempted to buy Tinkoff.
On a personal note, I am curious to see if there will be any incentives or further integrations between Yandex financial products, and other services such as .Market and .Cloud.