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Sbercoin: Tsetrobank received an application from Sberbank to issue its own stablecoin

In early January, Sberbank filed an application with the Central Bank of the Russian Federation to register a blockchain platform with the further release of stablecoin Cbercoinpegged to the ruble exchange rate. This was reported by “Interfax” with reference to the deputy chairman of the bank Anatoly Popov.

The law “On digital financial assets (DFA)”, which entered into force on January 1, 2021, allows registered sites to issue new types of assets.

“Technologically, the bank is ready to work with such a tool, we have tested it inside and saw that this solution works,” Popov said.

The registration procedure takes 45 days. If approved, the project can be launched in spring. It will primarily be used to issue digital bills.

Among the unresolved issues, the deputy chairman of the bank’s board named taxation of the CFA.

“We are actively negotiating with the central bank and authorities regarding the regulation and taxation of digital financial assets, and stablecoins in particular. We expect that together we will be able to develop a mechanism that will suit both business and the state, ”Anatoly Popov said.

Sberbank also plans to release a single electronic wallet, to which bonus and credit accounts will be linked.

“This is a big fundamental project for us, it moves in parts, because it is technologically difficult. We will add some functions every quarter, ”said Kirill Tsarev, deputy chairman of the bank’s board.

According to the bank’s top manager, the security level of this instrument will be at the highest level. The wallet will be fully launched by the end of 2021.

Recall that at the end of November 2020, Sberbank announced plans to launch a blockchain platform for the purchase of CFA and confirmed its intention to release its own digital currency.

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