Russia’s largest bank, Sber, has plans to launch its own blockchain platform. A few days ago it was announced that Sber plans to integrate this platform with the Ethereum (ETH) blockchain. This also includes a connection to leading crypto wallet Metamask.
Sber embraces Ethereum
Sber announced these plans on November 30, dat reports Interfax. The bank’s new platform should enable developers to smart contracts between Sber’s blockchain and other public blockchains, such as Ethereum.
MetaMask will also play an important role in Sbar’s blockchain platform, which will be used to interact with the Ethereum blockchain. This integration allows users to perform transactions with tokens and smart contracts placed on Sber’s blockchain platform.
The head of blockchain at the Russian bank, Alexander Nam, had this to say about Sber’s ambitious plans:
“Sber Blockchain Lab works closely with third-party developers and partner companies, and I am excited that our community will be able to run DeFi applications on Sber’s infrastructure.”
Crypto in Russia
As early as 2021, Sber announced plans to launch its own ‘Sbercoin’ stablecoin wanted to get off the ground, and even here a licence for received earlier this year. The launch of the blockchain platform is therefore not the first time that the bank wants to embrace crypto. The new plans clearly show that Sber has not lost the intention to do business with crypto.
Elsewhere in Russia we also see that the crypto industry is increasingly emerging. Even at the highest echelons of the Russian government, crypto is becoming an increasingly important topic of conversation.
That’s how it was recently crypto news read that the Russian state a own crypto exchange wants to launch. This is to monitor the issuance and trade of cryptocurrencies in the country. In any case, it is undeniable that sentiment towards crypto in Russia has shifted enormously since the beginning of this year.