Ethereum and Cryptocurrency Statement from Russia’s Largest Bank Sberbank!

Sberbank, Russia’s largest bank, is this week’s corporate event organized by the Sber Blockchain Laboratory. cryptocurrency announced at its industry event that it has added new features to its blockchain platform.

Sberbank’s Cryptocurrency Platform Will Work With Ethereum

The updated Sberbank platform is the world’s largest decentralized finance (DeFi) ecosystem. Ethereum This will allow developers to freely transfer smart contracts and entire projects between the bank’s blockchain network and open blockchain networks.

The new platform will also integrate with MetaMask, one of the most popular cryptocurrency wallets, allowing users to use a ready-made wallet to transact with tokens and smart contracts hosted on the platform.

“The Sberbank blockchain lab works closely with outside developers and partner companies, and I am pleased that our community will be able to run DeFi applications on Sber’s infrastructure,” said Alexander Nam, Director of Sberbank Blockchain Laboratory.

Sberbank’s blockchain platform will also allow participants to issue their own tokens and create smart contracts. Integration with the bank’s information systems makes it possible for users to pay via smart contracts in rubles.

Nam continued his statements as follows:

“Given the rapid development of Web3, I am confident that platforms that support multiple blockchain protocols will be in increasing demand. Sber will also be able to bring together developers, companies and financial institutions in the context of both common market research and the development of practical business applications.”

November has been a busy month for crypto in Russia. On November 24, local media reported that the Russian State Duma had begun work on a draft amendment to the Digital Financial Assets law to create a national cryptocurrency exchange, with lawmakers and market participants meeting to discuss what changes would be needed.

*Not investment advice.