Russian bank Sber to complete its first digital currency deal
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....
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As the largest banking and financial institution in Russia and one of the world’s biggest public companies, Sber’s move into digital assets is a significant one. Sber, the largest banking institution in Russia, continues progressing with the development of its blockchain-based platform for issuing digital assets.Anatoly Popov, deputy chairman of the executive board at Sber, said that the bank is planning to have registered its digital asset issuance platform with the Bank of Russia — the country’s central bank — by mid-September, local news agency TASS reported on Thursday.Popov said that....
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....
VTB Factoring acquires a tokenized debt pool of industrial companies via the Lighthouse blockchain. VTB Factoring, a subsidiary of Russia’s state-owned bank, reported the first major deal with digital finance assets. As part of the deal, the bank subsidiary acquired a tokenized debt pool of the engineering company Metrowagonmash, issued via the fintech platform Lighthouse.On Wednesday, June 29, VTB reported the deal on its webpage, claiming it to be the first issuance and placement of digital financial assets secured by cash in the Russian Federation. In the announcement, the bank compares....
According to the court, Sber had no reason to keep the account service blocked after the client provided detailed information about his Bitcoin trades. The state of cryptocurrency regulation in Russia has taken another twist as a local court has ordered the country’s largest bank to resume account support for a Bitcoin (BTC) trader.Sverdlovsk regional court, a court in Russia’s fourth-largest city of Yekaterinburg, has ordered Sber, formerly known as Sberbank, to unblock account services to a client involved in Bitcoin trading, according to an official announcement on Monday. The client’s....
Called “Sber — Blockchain Economy,” the ETF will trade under the ticker SBBE and track major crypto companies. Sber, the Russian government-backed company and the largest bank in the country, is launching a blockchain exchange-traded fund (ETF) to track the performance of major crypto companies such as Coinbase and Galaxy Digital.Sber Asset Management officially announced the news on Thursday, stating that the new ETF is linked to various blockchain and crypto industry firms, including hardware and software providers for mining and issuing crypto assets.Called “Sber — Blockchain Economy,”....