Russian Bank Sberbank to Launch Digital Currency Sbercoin
Main page News, Russia, Banking, Cryptocurrency
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Dec. 1, 2020

Russian bank Sberbank, the largest state-owned bank in Russia with more than 96 million customers, plans to launch a platform that will allow the purchase of digital financial assets.

In addition, in 2021, the bank might start to test the launch of its Sbercoin token at the same time as the country's central bank prepares the launch of the digital ruble.

Sberbank CEO Herman Gref has pointed out that from January next year the law "On digital financial assets" will come into force in Russia, introducing them into the legal sphere.

The first news about Sberbank's plans to launch its own crypto, the Sbercoin, was announced in August by the director of Sberbank's Transactional Business division, Sergey Popov. In mid-October, the Bank of Russia announced it was beginning consultations on the launch of a digital version of the ruble, the country's official currency.

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