Russian megabank testing DeFI products to meet surging customer demand for crypto – DL News
- Sberbank is one of Russia’s top five largest companies.
- Executive: decentralised finance and traditional financial services ‘will converge.’
- Bank keen on working on Ethereum blockchain solutions.
Sberbank, Russia’s biggest bank, says it’s testing a range of decentralised finance, or DeFi, products as its clients show a greater keenness to trade and hold crypto.
Speaking to the Russian media outlet RBC, Anatoly Popov, the deputy chair of Sberbank’s management board, said the firm will “develop digital asset offerings in collaboration with regulators.”
“Sberbank is already testing various DeFi products,” Popov said. “We are confident that traditional banking and DeFi will soon converge.”
While still cagey, Russian banks…
