Russia's largest state-owned bank, Sberbank, has announced plans to provide custody services for domestic crypto assets.

Russia's largest state-owned bank, Sberbank (Savings Bank of the Russian Federation), has announced plans to provide custody services for domestic crypto assets and has submitted relevant regulatory proposals to the central bank. Sberbank stated that the service will ensure the security of user tokens and hopes to incorporate crypto assets into a bank-like account regulatory system. Previously, the Russian central bank had relaxed its stance on crypto assets, allowing companies to use cryptocurrencies in international trade to counter Western sanctions. [Reuters]