Majority state-owned lender Sberbank is preparing to allow Russian citizens to buy and sell digital assets. Private individuals will be provided access to its proprietary blockchain platform as early as this month, a top executive of the bank announced.
Sberbank to Open Digital Assets Platform to Private Individuals
Retail investors will be able to transact with digital financial assets (DFAs) on the distributed ledger platform built by Sberbank by the end of the current quarter, according to the Deputy Chairman of the bank’s Board, Anatoly Popov.
“If we talk about individuals, then in the second quarter, in June, we believe this function will be open,” Popov said, quoted by the Tass news agency. They will have the opportunity to buy digital financial assets, sell them and exchange them for fiat, he detailed.
DFAs are a relatively new financial instrument for Russia which was regulated with the law “On Digital Financial Assets” in 2021. Unlike decentralized cryptocurrencies,
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