March 28, 2024

Russian “Sberbank” will issue its own stablecoin

Russian "Sberbank" will issue its own stablecoin

Russia's largest state-owned bank is already preparing to take advantage of new opportunitiescryptocurrency legislation and release your own stablecoin.

Sbercoin stablecoin backed byRussian ruble, "Sberbank" is ready to issue as early as next year. It remains to wait for the adoption of a series of additional regulations to the law "On digital financial assets". Currently, the text of the law allows companies to issue regulated tokens on private blockchains, but does not prescribe the mechanisms for their practical issuance. Additions to the law are now being developed and, possibly, will be submitted to the autumn session of parliament.

From a technical point of view, Sberbank has beenis working on such an opportunity and has the necessary infrastructure to ensure high liquidity of the coin, experts of the Russian blockchain industry say. Sbercoin will be used for interbank settlements, which will significantly speed up and reduce the cost of transactions within the bank's ecosystem.

The adoption of the law on CFA will serve as a trigger for many large industrial and financial companies in the Russian market. Sberbank could become a pioneer in the regulated token market in Russia.

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