Russia’s largest bank issued gold-backed digital financial assets

Russia’s largest bank Sber — formerly known as Sberbank — reported the first issue of gold-backed digital financial assets (DFAs). The bank considers DFAs to be a “great alternative” to investments amid dedollarization. On Dec. 26, Sber published the news about its first issue of gold-backed DFAs. A diversified metals seller and manufacturer, Solfer, became […]

Russia’s Sber bank integrates Metamask into its blockchain platform

Russia’s largest bank Sber — formerly known as Sberbank — continues developing its blockchain platform by integrating it with the Ethereum blockchain. On Nov. 30, Sber officially announced new opportunities for its proprietary blockchain platform, including compatibility with smart contracts and applications on the Ethereum network. This would allow developers to move smart contracts and entire projects […]

Russian bank Sber to complete its first digital currency deal

Russian banking giant Sber — formerly known as Sberbank — is preparing to soon complete its first digital currency deal involving the bank’s proprietary digital asset platform. The bank will conduct its first transaction involving digital financial assets (DFA) on its digital asset issuance platform by mid-July. Anatoly Popov, deputy chairman of Sber’s executive board, […]

Russia to seize retail deposits if sanctions go too far, official warns

In the event of harsh Western sanctions as Russian forces invade Ukraine, retail customers could be at risk to lose their savings. Russians’ savings could be confiscated in response to sanctions against the country, according to Nikolai Arefiev, a member of the country’s Communist Party and vice-chairman of the Duma’s committee on economic policy. The […]

Owner of Russian bank Tinkoff acquires Swiss digital asset firm

TCS Group, the owner of the major private Russian bank Tinkoff, is gaining exposure to digital assets. The firm has invested in Swiss digital asset service provider Aximetria, which is set to become the company’s first major crypto-related outfit, local news agency The Bell reported Wednesday. Citing data from Aximetria, the report suggests that TCS […]

Russian bank Sber launches blockchain ETF tracking Coinbase, Galaxy Digital

Sber, the Russian government-backed company and the largest bank in the country, is launching a blockchain exchange-traded fund (ETF) to track the performance of major crypto companies, such as Coinbase and Galaxy Digital. Sber Asset Management officially announced the news on Thursday, stating that the new ETF is linked to various blockchain and crypto industry […]