Summary
- It reported that Russia's largest bank, Sberbank, has begun testing DeFi (decentralized finance) products.
- A Sberbank executive said it plans to develop digital asset products through cooperation with regulators.
- The move was described as part of the Russian financial sector's efforts to integrate digital assets and blockchain technology into the regulated financial system.
Russia's largest bank Sberbank (Sberbank) has begun testing DeFi (decentralized finance) products.
On the 15th (local time), according to DL News, a media outlet specializing in virtual assets (cryptocurrencies), Sberbank is piloting DeFi-based financial products in response to increasing demand for virtual assets within Russia.
A Sberbank executive told Russian outlet RPC in an interview, "We plan to develop digital asset products in close cooperation with regulators," adding, "I am confident that traditional banking and DeFi will merge before long."
This move is interpreted as part of efforts by the Russian financial sector to gradually integrate digital assets and blockchain technology into the regulated financial system.
JH Kim
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