September 29, 2020

Sberbank integrated blockchain for its subsidiary

Sberbank integrated blockchain for its subsidiary

The largest Russian state bank not only shows interest in blockchain technologies, but also launches decentralized services. It became known this week that Sberbank has become a user of the platform to finance trading in commodities.

The direct user of this blockchain will be a subsidiary of a state bank registered in Switzerland (Sberbank AG).

Head of Trade Finance DivisionSberbank Evgeny Kravchenko said that over the past eight months the credit institution was able to finance the supply of goods with a total weight of more than 15 million tons. The amount of such supplies amounted to about $ 5 billion.

Trade finance is a very promising direction in business, so Sberbank is interested in consolidating its positions in this segment, the top manager added.

The blockchain network was developed by Komgo. She presented a system where users can quickly transfer a variety of information to each other in a decentralized format.

Interaction between participants is simplified as much as possible, and high speed of transactions is ensured due to the fact that companies can contact directly and without intermediaries.

CEO of the developer company Suleiman Buddystressed that Sberbank is included in the list of strategic partners of Komgo. Thanks to the signed agreement, all clients of the Russian state bank will be able to use the blockchain.

Sberbank integrated blockchain for its subsidiary

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