Russia’s Sberbank announce plans to roll out crypto services and own cryptocurrency

Russia’s largest state-owned bank, Sberbank plans to launch a blockchain platform for trading digital assets.

This was made known by Russian news website RBC. The CEO of Sberbank, Herman Gref pointed out that the bank plans to launch a blockchain platform with the ability to purchase digital financial assets.

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According to RBC, Herman Gref said:

From January 1, the law comes into force, we want to bring to the market our new blockchain platform, which will provide services for the purchase of digital financial assets. And there we are going to realize the possibility of acquiring green instruments from the very beginning.

The financial giant is also considering the possibility of issuing it’s own native token called “Sbercoin” which will be pegged to the Russian Ruble. The cryptocurrency will be used primarily as a settlement tool for transactions with other digital financial assets. Sberbank is Russia’s largest bank with more than 90 million clients.