Russia's Largest Bank Sberbank Tests Decentralized Financial Products

Russia's largest bank, Sberbank, has started testing decentralized finance (DeFi) products, as reported by Russian media RBC. This move is driven by the increasing interest of customers in cryptocurrency trading and holding. The vice-chairman of Sberbank's management board stated that they are developing digital asset services in cooperation with regulatory authorities. He expressed confidence in the convergence of traditional banking with decentralized finance. Sberbank, with a market capitalization of about $83 billion, serves approximately 109 million individual customers and over 3 million corporate clients. The Russian government's positive stance on regulatory frameworks by 2026 has accelerated the bank's cryptocurrency adoption plans...