Russia: Sberbank of Russia carries out the first issue of digital assets on its platform

Russia’s main creditor Sberbank on Saturday said it had conducted the first digital financial asset transaction on its own platform, and its subsidiary SberFactoring placed a 1 billion ruble ($16 million) issue with a three-month maturity.

Bank Russia has long expressed skepticism about cryptocurrencies, but is more open to other digital assets and has given blockchain Atomyze Russia platform is the first digital asset exchange license.

Creditor No. 2 VTB and fintech Lighthouse completed the nation’s first cash-backed digital financial asset transaction at the end of June.

Sberbank, which received the license in March, said in a statement that digital assets are being issued on its platform using blockchain technology and smart contracts.

The Sberbank platform will soon be available to all corporate clients of the bank, the report says.

Russia is working to improve the monitoring of cryptocurrency transactions and could start introducing industry regulation later this year, officials said this week.

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