Russian Sber bank Chief says we are studying more development in blockchain


Sber Bank is near to completing its first digital currency deal on its digital assets blockchain platform. 

Sberbank is a giant Russia-based bank, which is popularly known to support crypto & blockchain technology because of significant use cases. In the past, Sber did huge research and development work on crypto & Blockchain technology. Since 2021, Sberbank has been struggling to get approval from the Bank of Russia for its Sber coin launch. 

Recently Anatoly Popov, deputy chairman of the Sberbank executive board, appeared in an interview with TASS, a state-backed news agency. Through the interview, Anatoly revealed that Uber plans to complete a deal, which will conduct its first transaction involving digital financial assets (DFA) on its digital asset issuance platform by mid-July.

The deputy chairman emphasized the success of the Bank that it secured approval from the Central Bank for its Sber coin after huge delays but now the Bank is ready to explore blockchain technology.

Perhaps Anatoly didn’t mention the plan of the Sber bank on how it will bring use cases of blockchain technology or its application but he added that the Bank is committed to exploring the possibility of better use of blockchain technology.

He said:

“We are looking closely at the development of new technologies like distributed ledger technology. We are studying how blockchain technologies are developing. Our platform has already passed acceptance tests, and the first transaction will take place within a month.”

It is worth noting that news came much closely with VTB, the second-largest Russian bank, which is also working to test the purchase of DFAs in exchange for Russia’s central bank digital currency (CBDC) or say digital ruble by the end of Q3 2022.

Russia against crypto payment

In the past and present, Russian government agencies represented Russia as a crypto hater. Russian lawmakers never supported crypto-backed payment methods but always supported digital assets trading under restricted rules and regulations. 

Recently the Russian parliament passed a new bill in the first reading to restrict the use of (digital financial assets) DFAs as payment for goods and services. 

Read also: President of Panama wants more improvement in the crypto bill