Russia’s largest bank, Sberbank, will soon begin issuing and bartering digital financial assets.
The bank announced that companies will be able to transact on the blockchain platform next.
According to the news of Reuters, Sberbank managed to get approval from the Central Bank of Russia.
Russia’s transition to digital assets comes in the wake of strict economic sanctions by Western states following the invasion of Ukraine.
Sberbank also emphasized that the issuance of digital assets would be a very beneficial move to the market.
Sergey Popov, one of the bank’s directors, said, “We are starting to work with digital assets, realizing that more things need to be adapted to the regulatory framework.”
The bank also previously had plans to launch a stablecoin called Sbercoin.
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