Russian Banking Group Sberbank May Issue Its Own Cryptocurrency

Sberbank isn’t ruling out the possibility of issuing its own cryptocurrency, Sbercoin, in 2021. According to CEO of Russian banking group, Herman Gef, Sberbank is joining forces with JP Morgan for the crypto project and may launch the currency as an “experiment” next year.

Gref also revealed that the bank wants to promote accessibility to the class of assets through its blockchain platform. He revealed to the Russian media outlet RBC that this move is after the ‘On digital financial assets” law goes into effect in the country.

“From January 1st, the law comes into force, we want to bring to the market our new blockchain platform, which will provide services for the purchase of digital financial assets.”

Sberbank recently rolled out its cloud service for businesses to sign payment documents within its mobile banking app. The bank revealed that its corporate banking solution users will be able to clear payments and sign documents through non-certified digital signatures (NDS) using a cloud service.

Once you join the service, digital signature keys will be generated and uploaded to the bank’s clouds, and the bank’s certifying center will issue an NDS certificate. When signing a document, you need to confirm your access to the authentication key via biometrics or a PIN code. After that, the app will send a confirmation to the cloud to create an e-signature.”

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