Crypto Excitement: Sberbank Opens Doors to Digital Asset Trading for Individuals in Russia
Sberbank, the major state-owned lender in Russia, is gearing up to let you dive into the exciting world of digital assets. By the end of this quarter, retail investors will be able to buy, sell, and exchange digital financial assets (DFAs) using Sberbank’s very own blockchain platform.
Anatoly Popov, Deputy Chairman of Sberbank’s Board, spilled the beans and shared that the platform will be open to individuals as early as June. This means you’ll have the chance to trade DFAs for fiat currencies and even explore tokenized traditional assets like gold.
The Central Bank of Russia has already given the green light to various DFA platforms, including Atomyze, Lighthouse, Masterchain, and Alfa-Bank. And now, Sberbank, the country’s largest bank, is stepping into the game. They’ve been busy issuing DFAs worth billions of rubles since their licensing.
Russia is on the move when it comes to developing a regulated digital assets market. While the legal status of crypto assets like bitcoin is still up for discussion, there’s optimism surrounding crypto payments in cross-border settlements. Plus, certain activities like crypto mining are being considered for regulation.
Clever Robot News Desk 12th June 2023