In August, Yandex filed applications for the registration of the Yandex.Bank and YaBank trademarks. The company itself stated that “they periodically register new trademarks for various business tasks” and do not comment on the details. In 2020, Yandex has already applied for registration of the YABank trademark, as well as other trademarks.
The vc.ru edition drew attention to the appearance of applications for the registration of the Yandex.Bank and YaBank trademarks in the Kontur.Fokus database. The authors of the publication recalled that the domestic IT giant bought Akropol Bank in April 2021, and suggested that it could be renamed.
A year earlier, Yandex filed applications for registration of a number of trademarks related to the financial ecosystem, including YaKredit, YaBirzha, YaBroker, YaVklad, YaKapital, YaStrakhovka, YaSchet, YaPortfolio, YaSberezheniya, YaSaif, Ya Acquiring, YaPerevod, YaValyuta, YaTrade, YaAktsii and YaKash.
In March, Yandex launched its own payment service Yandex Pay. The IT giant began developing its own fintech business after the company, together with Sberbank, closed a major deal to split common assets in the summer of 2020.
The purchase of the Moscow bank “Acropolis” cost “Yandex” 1.1 billion rubles. The deal allowed the company to obtain a license from a credit institution to promote banking and payment products. After an unsuccessful attempt to merge with Tinkoff Bank, Yandex decided to implement financial services on its own.
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