The largest bank in Russia, Sberbank, has announced the launch of its new cryptocurrency which asked the financial institution to which it subscribes to create a blockchain platform, in order to promote the digital currency that bears the name Sbercoin.

The director of Sberbank’s transactions business, Sergey Popov, was responsible for announcing the initiative this January 21st, during the financial event “Digital transformation and regulation perspectives of the digital economy.”

The proposal had already been presented to the central bank at the beginning of the year by the executive and in this sense Sberbank continues to work on the taxes that will be applied to Sbercoin.

Russia innovates the crypto market

According to Popov, “there is a high probability that this project will launch in the spring. There is one more issue that has yet to be fully resolved, which is related to the taxation of digital financial assets. But we hope this issue will be resolved soon.”

According to what was reported by the spokesperson, the financial institution is ready in the technological field “to work with a fiat currency” adding that: “We have completed an internal test to verify that the solution works.”

K.Villarroel

Source: cointelegraph

La entrada Russian bank to launch stablecoin next month apareció primero en Bitfinance.