Russia is taking another step into the world of cryptocurrency. Sberbank, the country’s largest bank, is set to enter the field of digital asset trading by offering its customers the opportunity to exchange cryptos. This initiative positions Sberbank as a key player in the Russian financial landscape and strengthens its influence in the crypto world.
Russian bank facilitates cryptocurrency exchange
Sberbank expands its range of services by enabling customers to buy, sell and exchange bitcoin and other cryptos.
According to a recent press release, crypto asset trading available this month. This will offer customers an opportunity to easily access the market and diversify their investments. In addition, the bank is also preparing to accumulate digital assets, responding to growing customer demand.
According to Anatoly Popov, Vice-Chairman of the Board of Directors of Sberbank, the bank is ready to meet the demand of its customers who wish to trade cryptocurrencies.
Alexander Vedyakhin, bank vice-president, also believes that investors interested in the crypto market could bring more money into the bank.
Sberbank has long been a strong advocate of blockchain technology. Indeed, the bank planned to launch an Ethereum-compatible DeFi platform in April. However, it had to postpone its launch until June to ensure an optimal user experience.
With this foray into crypto asset trading, Sberbank strengthens its position as an innovator in the Russian banking industry. The bank will issue tokens and develop smart contracts, while integrating its banking services, enabling Russia to continue its expansion in the field of finance.
Coming from a journalism university background, I came across Bitcoin and cryptocurrencies not long ago.
The potential of the Blockchain seduced me and I made it my research topic.
