Russia’s Sberbank is testing DeFi products to meet crypto demand
Russia’s largest bank, Sberbank, has begun testing decentralized finance (DeFi) products. The bank’s deputy chair of the management board, Anatoly Popov, told Russian media outlet RBC the firm will soon “launch digital asset services in collaboration with regulators.”
In a recent interview with RBC, Popov stated that he is “confident that traditional banking and DeFi will soon converge” in Russia. However, the deputy leader of the Sberbank board did not provide details on which specific protocols the bank is exploring.
Sberbank’s experiments align with the growing adoption of the crypto market in Russia, where several firms have launched crypto-themed funds, bonds, and indices that track the prices of Bitcoin and…
