{"id":159722,"date":"2021-01-21T17:52:53","date_gmt":"2021-01-21T14:52:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/top-russian-bank-sberbank-plans-to-launch-its-stablecoin-by-spring-2021\/"},"modified":"2021-01-21T17:52:53","modified_gmt":"2021-01-21T14:52:53","slug":"top-russian-bank-sberbank-plans-to-launch-its-stablecoin-by-spring-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/top-russian-bank-sberbank-plans-to-launch-its-stablecoin-by-spring-2021\/","title":{"rendered":"# Top Russian bank Sberbank plans to launch its stablecoin by spring 2021"},"content":{"rendered":"

“# Top Russian bank Sberbank plans to launch its stablecoin by spring 2021 <\/strong>”
\n<\/p>\n

Sberbank, the largest state-owned bank in Russia, has reportedly filed an app<\/a>lication with the Bank of Russia to launch a blockchain platform for its \u201cSbercoin\u201d stablecoin.<\/p>\n

Sergey Popov, director of the transaction business at Sberbank, announced the news<\/a> on Jan. 21 at a local financial event Russian news agency Interfax reports<\/a>.<\/p>\n

At \u201cDigital transformation and prospects for regulating the digital economy,\u201d Popov said that Sberbank applied with the central bank in early January, explaining that the registration procedure usually takes no longer than 45 days. As such, the bank may launch its platform and stablecoin by the spring this year, the official said. However, Sberbank is still working out how to tax Sbercoin:<\/p>\n

\u201cThere is a high probability that this project will be launched in the spring. There is one more issue that has not yet been fully resolved, which is connected to the taxation of digital financial assets. But we hope that this question will be resolved soon.\u201d<\/p><\/blockquote>\n

Popov reportedly added that Sberbank is \u201cready to work with such a fiat currency\u201d from a technological standpoint so far. \u201cWe have completed an internal testing to see that the solution works,\u201d he said.<\/p>\n

Sberbank\u00a0did not immedia<\/a>tely respond to Cointelegraph\u2019s request for comment.<\/p>\n

As previously reported, Sberbank broke the news on developing its native Sbercoin token\u00a0at the end of November, following long-running speculation about these plans. Sberbank\u2019s latest announcement comes shortly after Russia officially adopted its crypto law \u201cOn Digital Financial Assets\u201d on Jan. 1, 2021.<\/p>\n

In late 2020, Anatoly Aksakov, a member of the Russian State Duma, said that the Duma\u2019s Committee on Financial Markets expects Russian crypto issuance to surge after the adoption of the country\u2019s new crypto law.<\/p>\n