Russia's Biggest Bank Wants to Join R3, Embrace Blockchain and Avoid Bitcoin
Sberbank, Russia's largest bank in net assets intends to join the R3-led international blockchain consortium, according to reports. As reported by Russian news publication Kommersant, Sberbank, Russia's biggest bank with over three times the net assets over its closest competitor is keen on joining the global consortium of 30 banks and financial institutions led by New York-based R3. Speaking to be publication, Sberbank's First Deputy Chairman of the Management Board, Leve Khasis, confirmed the bank is keeping a close eye on the evolution of blockchain technology. He added the bank is....
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According to a report, Russian payment platform Qiwi will create a blockchain consortium which will see Russia’s biggest banks at its members. In a move reminiscent of the private banking blockchain consortium led by New York-based R3, Russian payment operator Qiwi is reportedly looking to create a consortium for banks in the country. Qiwi intends to develop standards for the application of distributed ledger technology among banks, according to a report from Russian publication Izvestia. The Russian startup has sent invitations to Russia’s biggest banks including BIN Bank, Alfa Bank, and....
Bank of Russia which is the nation’s central bank has admitted that cross-border crypto transfers are next to impossible to avoid. At the current moment, the geopolitical climate of Russia has been under a lot of stress. According to other local news outlets, the central bank has adopted a different approach when it comes to […]
Russia’s largest bank Sberbank expects to join the international consortium R3 alongside Goldman Sachs, JP Morgan, Credit Suisse, among others, to develop blockchain-powered financial services, according to kommersant.ru. But while the technology can make the bank’s operations more efficient, it may also help reduce dependency on the internal SWIFT....
In line with its hardline stance on cryptocurrencies, the Central Bank of Russia (CBR) has issued a recommendation against the listing of securities tied to crypto assets on the country’s stock exchanges. The “preventive measure” will not affect state-issued digital currencies. Bank of Russia Worried About Common Investors’ Exposure to Crypto Derivatives Russia’s central banking institution, known as Bank of Russia, has again expressed its misgivings regarding decentralized money. Cryptocurrencies and digital assets are characterized by high volatility, lack....
Russia’s central bank intends to prohibit mutual funds from acquiring crypto assets or related financial instruments. The proposal, which is in line with its hard line stance on decentralized digital money, comes after the regulator urged stock exchanges to avoid trading securities tied to cryptocurrencies.
Central Bank of Russia Issues Draft Directive Banning Crypto Investments for Mutual Funds
The Central Bank of the Russian Federation (CBR) is taking steps to prevent mutual investment funds from putting money into digital currencies such as bitcoin. The restrictions....