Sberbank Files Application to Register Its Own Cryptocurrency

Sberbank has filed an application with the Central Bank to launch a platform to issue its own cryptocurrency – Sbercoin, said Anatoly Popov, deputy chairman of the bank’s board. According to him, the launch is scheduled for this spring, ICT Moscow reported.

The application was submitted in accordance with the law on digital financial assets, which came into force in Russia on January 1. The technology has already been tested in the bank. The company plans to apply it in the field of digital bills. The deputy chairman of the bank’s board is convinced that replacing a paper bill with an electronic one opens up great opportunities.

Sberbank announced plans to release its own cryptocurrency in August 2020. As noted by the director of the Transactional Business Division, Sergei Popov, we are talking about the creation of tokens that can be used in payments for digital financial assets.