Sberbank to register its blockchain platform with the Bank of Russia by mid-September

Sberbank expects to have its own blockchain platform registered with the Bank of Russia by mid-September, Anatoly Popov, deputy chairman of the bank’s management board, told reporters, according to ТАСС.

He also added that the bank is already developing functionality for the issuance of digital financial assets (DFA).

“For now, we plan only the issuance and circulation of the bank’s own DFAs, but we have already started developing the functionality for issuing DFAs for third parties, and we expect that our clients will be able to use this capability by the end of this year,” Popov said.

He noted that Sberbank is actively consulting with the Bank of Russia during the development of the system.

Earlier, the head of the organization, German Gref, stated regarding the launch of Sberbank’s blockchain platform last year.

Follow ForkLog’s bitcoin news on our Telegram — cryptocurrency news, prices and analytics.