Russia's largest bank, Sberbank, plans to offer crypto custody services

On July 18 (UTC+8), Russia's largest bank, Sberbank, announced plans to offer crypto custody services and is submitting regulatory and custody proposals to the Russian central bank, intending to regulate crypto assets in a manner similar to traditional bank account assets. Sberbank stated that it will ensure the security of tokens. This move reflects Russia's gradual shift towards using crypto products for cross-border payments in the face of sanctions. Previously, the Russian Agricultural Bank also announced cooperation with the central bank to assess digital assets for grain settlements, and the Ministry of Finance suggested developing stablecoins pegged to other currencies to counter the dollar-dominated crypto landscape. (Source: Decrypt) [MetaEra]