One of Russia's largest financial institutions is in discussions to join a domestic bank consortium that would study blockchain technology.
Announced in April, the consortium effort is being led by Russian payments firm Qiwi and international consulting firm Accenture. Banks said to be participating in the initiative, according to government news source TASS, include B&N Bank, MDM Bank, Bank of Khanty-Mansiysk and Tinkoff Bank.
President of Sberbank German Gref remarked late last week that talks about the consortium remain in early stages.
The news comes at a time when Russia-based financial firms are becoming more ambitious in their plans for blockchain technology.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.