Russia’s largest bank struggles to register its digital asset platform
State-owned bank Sber is trying to launch digital asset tools, but regulators remain skeptical about the industry. Sber, Russia’s largest bank, is apparently struggling to obtain regulatory approval for its digital asset issuance platform as the company continues delaying registration plans.Sber CEO Herman Gref announced Tuesday that the bank now expects its digital asset issuance platform to have been registered with the Bank of Russia by the end of 2021, local news agency Prime reported.“We are in constant contact with the central bank, and we are discussing various issues. We really....
Related News
Sber was initially planning to launch its blockchain-enabled digital asset platform and the Sbercoin stablecoin by spring 2021. Russian banking giant Sber — formerly known as Sberbank — is preparing to soon complete its first digital currency deal involving the bank’s proprietary digital asset platform.The bank will conduct its first transaction involving digital financial assets (DFA) on its digital asset issuance platform by mid-July.Anatoly Popov, deputy chairman of Sber’s executive board, disclosed Sber’s plans to complete such a deal in an interview with the state-backed news agency....
Russia’s digital ruble will not have the same level of anonymity as cash, says official. Elvira Nabiullina, the head of the Bank of Russia, argued that there is a line between anonymity and privacy regarding the circulation of an upcoming digital ruble.Speaking at a press conference on Oct. 23, Nabiullina said that Russia’s digital ruble will not have the same level of anonymity as cash. However, the bank expects to strengthen user privacy, Nabiullina promised, stating:“Still, we shouldn’t confuse the anonymity with confidentiality of digital ruble transactions. Indeed, there will not be....
A cafe located in Russia’s largest state-owned bank Sberbank, which has demonstrated an increasing interest in the development of Blockchain networks and cryptocurrencies, is officially accepting Bitcoin payments in Sberbank headquarters in Moscow, despite the confusion about the legality of the digital currency. After Roskomnadzor, the Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications of Russia, banned P2P Bitcoin trading platform Localbitcoins, the legality of Bitcoin in Russia became unclear once again. Due to the unestablished....
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....
While Russian authorities and officials have frequently poured scorn on bitcoin and digital currencies, going as far as to craft laws aimed at criminally prosecuting adopters and miners, the head of Russia’s largest bank has revealed that he has owned and exchanged bitcoins for fiat currency. Herman Gref, CEO and chairman of the executive board of Sberbank, Russia’s largest bank by assets has, in a public talk, spoken to the benefits of virtual currencies while opining how they will soon permeate into society, as reported by Russian news agency TASS. Speaking at the presentation of a joint....