The largest state bank in Russia, Sberbank, has submitted an application to the Bank of Russia to register its own blockchain platform.
On January 21, Deputy Chairman of the Board Sergei Popov told Interfax:
There is a high probability that the stable coin project will be launched this spring. There is one more issue that has not yet been fully resolved - the issue of taxation of digital financial assets, but we hope that it will become clearer. The simplest use of Sbercoin is a digital bill.
He also added that the testing stage has already been completed and “technologically the bank is completely ready to work” with the new currency.
As previously reported, Sberbank announced the issue of a stable coin last year.
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