Sberbank will conduct the first deal with digital currencies

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Deputy Chairman of the BoardSberbank Anatoly Popov said that the largest state bank is closely monitoring the development of cryptocurrencies and is going to conduct the first crypto transaction in the near future.

The first transaction with CFA on Sberbank’s own platform will take place within a month, he said
deputy chairman The state banker added that Sber is monitoring the development of innovative financial technologies, including studying the field of blockchains and distributed registries.

“There are currently many projects emergingwith their use, and in Sberbank, of course, too. In the spring, we were included in the register of operators of information systems that issue digital financial assets. Our platform has already passed acceptance tests, and within a month the first transaction will take place,” Popov said.

The Bank of Russia included Sberbank in the registerDFA operators back in March. Legal entities added to the register will be able to issue digital financial assets (DFA) on the Sberbank blockchain platform and make other transactions required by law within a month. At the initial stage, the Sberbank platform will provide legal entities with the opportunity to attract investments by issuing their own digital financial assets, as well as to place temporarily available funds to generate income through their acquisition.

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Last SeptemberSberbank announced the completion of work on creating its own application for issuing digital financial assets and registering the blockchain platform with the regulator. Earlier, Deputy Chairman of the Board Anatoly Popov reported that the bank had submitted an application to the Central Bank of the Russian Federation to register a platform for issuing its own stablecoin - Sbercoin. In 2020, Sberbank successfully tested the interaction of its corporate platform based on the Hyperledger Fabric blockchain with the Waves Enterprise platform.