Sberbank plans to create its own cryptocurrency, while a local court will remove Binance from the list of blacklisted internet domains.
The state-owned giant Russian bank Sberbank reportedly sought approval from the country’s central bank to launch its own cryptocurrency through a blockchain platform.
Is Sberbank getting ready to launch its own crypto?
According to local reports, Sberbank of Russia, one of Russia’s largest banks, applied to the central bank to launch a blockchain platform.
If the Central Bank of the Russian Federation approves the application, Sberbank plans to leverage the blockchain platform to create its own cryptocurrency.
Anatoly Popov, vice president of the board, said the main goal was to launch the digital asset in the spring of this year.
Popov also notes that the bank has already tested the technology and “has seen this solution work.”
Russian law states that registration can take up to 45 days. The country’s central bank can use this time frame to address any potential problems or challenges it sees in the project.