Sberbank Considers Russian Blockchain Consortium
One of Russia's largest banks is in discussions to join a domestic bank consortium that would study blockchain technology.
Aug 22, 2016 at 5:14 p.m. UTCUpdated Aug 18, 2021 at 5:09 p.m. UTC
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One of Russia's largest financial institutions is in discussions to join a domestic bank consortium that would study blockchain technology.
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President of Sberbank German Gref remarked late last week that talks about the consortium remain in early stages.
Gref said:
"We are now discussing this with the Central Bank. If the Central Bank [and] all participants agree, then we are definitely going to participate, but we are in active negotiations."
The news comes at a time when Russia-based financial firms are becoming more ambitious in their plans for blockchain technology.
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Qiwi, for example, recently said it could transition to a blockchain settlement system within five years. Elsewhere, the National Settlement Depository, the country’s sole central securities depository, is testing applications for the tech in its operations.
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