Sberbank Gets License From Russian Central Bank to Issue, Exchange Digital Assets

Russia’s Sberbank has received a license from the Bank of Russia to issue and exchange digital assets, just two months after the Russian central bank had advocated for a full ban on trading, mining and using cryptocurrency.

Sberbank, the country’s largest retail bank, recently said it was withdrawing from European markets after sanctions over the invasion of Ukraine began hitting Russian-exposed industries, and its Europe-based units were seeing cash outflows.
In January, Sberbank applied for a license with Russia’s central bank to issue its own digital token for corporate clients. Sberbank sought to have the digital asset available for the companies banking with it.

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