Sberbank, Russia's largest bank, has announced it would start offering digital asset services in June. The new service will allow Sberbank customers to purchase and sell cryptocurrencies and make transactions in digital assets through the bank. The bank had originally planned to start offering the service in April. - However, the arrival of the offering was delayed to the summer months.
- Sberbank expects to issue digital assets valued at tens of billions of rubles in the near future.
- The bank's deputy chairman, Alexander Vedyakhin, said the new service would bring more liquidity to Sberbank through the investors interested in digital assets.
- The country's largest bank also introduced new assessment functions to help clients make better decisions on investments in the digital asset industry.
Russia recently abandoned its plans to launch a national crypto exchange for cross-border payments and decided to use existing exchanges by regulating the operation and establishment of digital asset trading platforms. - In July 2022, Russian President Vladimir Putin signed a bill banning payments with digital assets, including crypto, for goods and services nationwide.
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