Sber to complete first digital currency deal

Sber to complete first digital currency deal

Russia-based banking giant Sber, formerly known as Sberbank, is preparing to close its first digital currency deal, which includes the bank’s proprietary asset platform, soon.

The bank plans to execute its first transaction involving digital financial assets (DFA) on the digital asset issuance platform by the middle of next month.

Anatoly Popov, Sber’s vice chairman of the board, said in an interview with the state-sponsored news agency TASS on June 15 that Sber plans to complete the deal. announced.

After a series of registration delays, Sber finally received registration from the country’s central bank in the spring of 2022, Pepov said. Sber has long struggled to register its digital asset issuance platform, which is expected to launch alongside the Sbercoin stablecoin by spring 2021.

Although the latest news does not directly address blockchain applications on the Sber platform, Popov emphasized that the bank is committed to researching the technology and continued:

“We closely follow the development of new technologies such as distributed ledger technology, that is, we study how blockchain technologies evolve. Our platform has passed the acceptance stages and the first transaction will take place within a month.”

The latest development comes after Russia’s second largest bank, VTB, announced in September 2022 that it is preparing to test the purchase of DFA in exchange for the country’s central bank currency (digital ruble). VTB board member Svyatoslav Ostrovsky said at the Saint Petersburg International Economic Forum on June 15 that they plan to launch a new platform for buying digital rubles. reported.

On the other hand, a new bill banning the use of DFAs for products and services has been passed before the Russian Parliament voted on Tuesday. passed.

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