Sberbank assumes the option to issue ruble-linked stable coin

The company informed that the resolution on the creation of stable coin secured with Russian currency will be adopted in the “nearest future”.

According to the statement of “Transactional business” department head Sergey Popov: “Sberbank can issue digital token the exchange rate of which will be linked to Russian currency exchange rate”.

He says that this coin will become the payment instrument during transactions with other digital financial assets. During online discussion “Practice of digital financial assets” Popov mentioned that “We are interested in it as a bank. Probably we can issue such token based on the law which is about to be adopted and this token will become the basis, the payment tool  for other digital financial assets
The company representative mentioned that Sberbank takes into consideration all wishes of its customers and the official enactment on January 1st, 2021 of the law about digital financial assets. This document defines Bitcoin and other cryptocurrencies and bans its usage on the territory of Russia as a payment tool.

On July 24, the head of State Duma Committee on the financial markets announced that large scale Russian supply companies plan the issue of stable coins backed by other assets. First tokens will be presented in the first half of 2021.

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