It was stated that Sberbank, a giant Russian bank owned by the Russian state, requested approval from the country’s central bank to launch its own crypto currency with a blockchain platform.
In addition, it removed Binance from the black list, which was previously blacklisted by the Russian court, with the new decision.
Sberbank Launches Its Own Cryptocurrency
Sberbank of Russia, one of Russia’s largest banks, applied to the central bank to launch a blockchain platform, Russian media reported.
If the Central Bank of the Russian Federation approves the bank’s application, Sberbank plans to get support from the blockchain platform to create its own cryptocurrency.
Anatoly Popov, the bank’s chief executive officer, stated that the bank’s digital asset is launching in the spring of this year.
In his statement, Popov emphasized that the bank has already tested the technology and that “he saw that this solution works”.
Registration of Russian law can take up to 45 days on average. The country’s central bank is using it during this time to examine the problems or challenges it has seen in the project.