Bank of Russia Allows Sberbank to Issue Digital Financial Assets
Sberbank, Russia’s largest bank, has been authorized by the country’s monetary policy regulator to issue digital financial assets. The move comes amid tightening Western sanctions over the war in Ukraine, including limiting Moscow’s access to the global financial market. Sberbank Added to Central Bank’s Register of Crypto Asset Issuers The Central Bank of Russia (CBR) has added Sberbank, the country’s leading banking institution, to its register of information system operators permitted to issue digital financial assets (DFAs). The term is used....
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Russia’s largest bank, Sberbank, is going to carry out the first transfer of digital assets on its own dedicated platform within a month, a top executive revealed this week. The announcement comes after earlier this year, the bank was authorized to issue digital financial assets.
Sberbank Prepares for Deal With Digital Financial Assets on Proprietary Platform
Russian majority state-owned bank Sberbank (Sber) will perform the first transaction with digital financial assets (DFAs) on a platform developed by the institution within a month, Tass reported. The news agency....
On Thursday, the Central Bank of Russia said that it had granted Sberbank a license to issue and exchange digital assets. The move comes just two months after the central bank urged for a complete ban on cryptocurrency trading, mining, and use. Thursday’s statement may present the bank with additional options as it strives to […]
With new legislation on digital assets coming into effect in a month, Russian financial institutions are looking to act. With a new law coming into effect in Russian, the country's largest bank is planning a new blockchain platform for trading, as well as a native token.According to a Monday report from Russian business news outlet RBC, Sberbank is planning to jump into crypto come 2021 when a new law "On Digital Financial Assets," or DFA, is set to come into effect. The news came from Herman Gref, the CEO and chairman of Sberbank. With over 96 million clients, the state-owned bank is the....
The largest bank in Russia, the state-owned Sberbank, has reportedly unveiled its crypto plans as the country is set to begin regulating the industry in January. Sberbank’s CEO says the bank may issue its own cryptocurrency in collaboration with JPMorgan. Sberbank’s Crypto Plans and Sbercoin The CEO of Sberbank, Herman Gref, unveiled on Monday his bank’s plans for when the country’s upcoming crypto regulation takes effect. Gref explained that the law “On digital financial assets” will enter into force in Russia on Jan. 1. It provides a legal definition....
Sberbank has applied with the Central Bank of Russia to launch a blockchain platform for its “Sbercoin” stablecoin. Sberbank, the largest state-owned bank in Russia, has reportedly filed an application with the Bank of Russia to launch a blockchain platform for its “Sbercoin” stablecoin.Sergey Popov, director of the transaction business at Sberbank, announced the news on Jan. 21 at a local financial event Russian news agency Interfax reports.At “Digital transformation and prospects for regulating the digital economy,” Popov said that Sberbank applied with the central bank in early January,....