Blockchain

Sberbank to register with Russian Central Bank

Sberbank is expected to register its blockchain platform with the Bank of Russia by mid-September and says it has already created functionality in issuing digital financial assets (DFA) of third parties.

Anatoly Popov, deputy chairman of the executive board at Sber, said the bank was planning to register its digital asset issuance platform with the Bank of Russia by mid-September.

“We want to work on registration of the platform for the issue of CFA to be completed no later than the first half of September,” he said.

“So far, we only plan to issue and turnover of the bank’s own CFA, but have already begun to create functionality for the issue of CFA by third parties and expect that our clients will be able to use this opportunity later this year.”

He added that Sber had recently sent an updated application for the platform to the Bank of Russia, following some feedback from the institution.

According to local reports, Sberbank has invested around $1 billion in its digital ecosystem in the first half of 2021. Earlier this year, the company applied with the Bank of Russia to launch a blockchain platform for its own stablecoin known as Sbercoin.

Teuta Franjkovic

Starting out as a staff writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing daily newspapers and websites in the IT and economics industries. With a passion for creating opportunities and bringing people together, Teuta turned her attention to the world of crypto and blockchain. She holds a double MA in Public Politics and Entrepreneurship.

Disqus Comments Loading...

Recent Posts

The surge of Bitcoin NFTs: Everything you should know about Bitcoin ordinals

From digital art to real-estate assets, NFTs have become a significant attraction for investors who…

3 weeks ago

MEXC Partners with Aptos to Launch Events Featuring a 1.5 Million USDT Prize Pool

Singapore, Singapore, 21st October 2024, Chainwire

3 weeks ago