March 22, 2023
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Sber (previously called Sberbank), a big name in the Russian banking industry, is getting ready to shortly conclude its initial digital currency contract taking into account the bank’s trademarked venue for digital assets. Till the mid of July, the bank will organize its initial transfer comprising digital financial assets (DFA) on its venue for the issuance of digital assets.

Executive board’s deputy chairman at Sber, Anatoly Popov, revealed the strategy of Sber to carry out this type of contract while appearing in an interview conducted on the behalf of TASS (a news agency backed by the state). Popov asserted that the bank ultimately has been registered under the central bank of Russia in this year’s spring after several delays occurring in its registration.

A great struggle has been done by Sber to register the venue thereof for the issuance of digital assets, firstly anticipated to begin in parallel to its stablecoin named Sbercoin by the previous year’s spring. Though the exclusive news does not make any direct mention of the utilization of blockchain that operates on the platform of Sber, Popov disclosed that it is determined by the bank that it would delve into the technology.

In his words, they are having a keen eye at the new technologies’ advancement taking into account the distributed ledger technology. He added that they are pursuing the ways through which blockchain technologies are advancing. As per him, their venue has in advance successfully gone through the acceptance tests, and the initial transfer will occur in less than a month.

The respective news is witnessed at a time when the second-biggest bank within Russia, VTB, is additionally making a plan to test the DFAs’ purchase in exchange for the central bank digital currency (CBDC) of the country – the digital ruble, in this year’s September. On 15th June, Svyatoslave Ostrosky, the board member at VTB, reportedly declared the organization’s strategy to introduce an exclusive venue that would be specified for digital rubles’ purchase at the Saint Petersburg International Economic Forum.

In a new series of advancements, it has been reported that – on 14th June – the parliament of Russia approved a unique bill, the chief objective of which would be to place an outright prohibition over the utilization of DFA to make payments in return for services as well as products, in its initial reading.

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