Two of Russia's largest banks are planning to launch a cryptocurrency portfolio product for their private banking clients, Kommersant reported.
Russian bank Sberbank CIB and telecoms firm MTS have conducted what they say is the country's first commercial bond transaction made using blockchain.
Sberbank, one of the largest banks in Russia, has built a blockchain laboratory to develop and test blockchain-based solutions.
The head of Sberbank believes that the wider-scale implementation of blockchain in Russia could take as long as a decade.
The newest member of the Enterprise Ethereum Alliance is also Russia's largest bank.
Russian Finance Minister Anton Siluanov said his department will regulate the use of cryptocurrencies in the country by the end of 2017.
The CEO of Russia's largest bank believes commercial blockchain applications are closer than many experts have projected.
Russia's largest bank discusses the future of financial intermediaries, and how blockchain could impact today's established order.
A Russian government agency focused on anti-trust regulation is testing blockchain to exchange and secure documents.
One of Russia's largest banks is in discussions to join a domestic bank consortium that would study blockchain technology.