Russia’s largest bank, Sberbank, plans to have crypto trading infrastructure in place no later than Dec. 1, according to a Cointelegraph report cited by ChainCatcher. The buildout is set to include a digital repository designed to record ownership of cryptocurrencies. The report said most transactions would be processed outside the main blockchain through that system. The move comes as Russia brings crypto trading, custody and settlement into its regulated financial framework. Sberbank is also expected to run active wallets that customers can use for deposits, withdrawals and transfers. The plan points to a more formal institutional structure for handling crypto activity within the country’s banking system, based on the details described in the report.
Sberbank, Russia’s largest bank, plans to complete crypto trading infrastructure by no later than Dec. 1, according to a Cointelegraph report cited by ChainCatcher.
The planned setup includes a digital repository. The report said it would record ownership of cryptocurrencies and process most transactions outside the main blockchain.
The development comes as Russia moves crypto trading, custody and settlement into its regulated financial system. Sberbank will also operate active wallets for customer deposits, withdrawals and transfers.
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