Sberbank announced the timing of the release of its own stablecoin

The bank has submitted an application to the Central Bank for the registration of its own blockchain platform and expects toIntroduce SberCoinafter her approval.

Sberbank has submitted an application for registration to the Central Bankblockchain platform for the release of its own digital asset - savings (stablecoin, the exchange rate of which will be pegged to the ruble exchange rate), Anatoly Popov, deputy chairman of the bank's board, told reporters during the seminar "Digital transformation and prospects for regulating the digital economy."

“Sberbank submitted an application to the Bank of Russia forregistration of your blockchain platform in early January, since digital financial assets, in accordance with the law, can be issued on a registered platform. Technologically, the bank is ready to work with such a tool, we tested it internally and saw that this solution works,” said Popov.

According to him, the registration procedure takes 45 days and there is a possibility that the project will be launched in spring.

Among the questions that are currently notresolved to the end, the deputy chairman of the bank called the issue of taxation of digital financial assets. Popov also noted that the simplest use of a savings coin is a digital bill.

“It was about Sber's digital financial asset,the timing of the launch of which depends not only on us - we are actively negotiating with the Central Bank and authorities regarding the regulation and taxation of digital financial assets, and stablecoins in particular. We expect that we will jointly be able to work out a mechanism that will suit both business and the state, ”the press service of the bank reports.

In the summer of 2020, division directorSberbank's "Transaction Business" Sergey Popov said that the company may issue a digital token, the rate of which will be pegged to the ruble quotes. It will become a settlement tool for transactions with other digital financial assets. In November last year, the head of the bank, German Gref, said that the company plans to present a platform with the ability to purchase digital financial assets, and also confirmed plans to launch a stablecoin.

</p></p>