One of the largest private commercial banks in Russia, Alfa-Bank JSC, in cooperation with X5 Retail Group has launched Russia's first liquidity management blockchain service.
According to the official announcement, the new customizable BaaS service called Distributed Treasury and Cash Management (DTCM) enables the bank’s corporate clients to manage their payments, loan and deposit products, and liquidity pool inside the holding.
Director of the Alfa-Bank Center for Innovations Research and Development Denis Dodon claims that the key difference between DTCM and other offers available on the market is that the bank gives its client "not just a channel to send orders to the bank but a way to shape up business logic of the product and actually ‘create a bank’ for the client’s convenience."
Previously, Sberbank, Russia's largest state-owned bank, froze all of its crypto-related developments due to the absence of the government crypto regulation.
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