Russia-based Sberbank is set to launch cryptocurrency in 2021. This development comes after president Vladimir Putin shared a treaty give green signal to cryptocurrency in the country.
The CEO of the bank Herman Gref confirmed that they are partnering with JP Morgan to begin a experimental project-related to cryptocurrency. However, more details regarding the cryptocurrency was not released by the Chief Executive.
There has been growing interest in cryptocurrency and Russia president Mikhali Mishustin has admitted it. Ever since Putin put his pen to paper about the crypto reforms it has been increasing and might grow leaps and bounds.
Mishustin also mentioned that there has plans to change the crypto laws in Russia in the upcoming times. He also mentioned that there are plans by the government to manage the sector related to cryptocurrency in near future with legislations related to it and which will be undermined.
Sberbank currently holds their stake in electronic payments, online retail, and delivery companies. If this goes on to be adapted widely then blockchain technology can turn out to be unlimited.