Russia's largest bank Sberbank plans to provide escrow services for Russian crypto assets
TechFlame
2025-07-17 15:00
TechFlame2025-07-17 15:00
English
According to TechFlame, according to Reuters, Russia's largest bank, Sberbank (Sberbank), said on Thursday that it hopes to provide escrow services for Russian cryptocurrency assets and seek to play a leading role in the development of Russian digital assets.
Anatoly Pronin, executive director of Sberbank's alternative payment solutions division, said that after seeing more and more foreign banks begin providing custodian services, the bank has submitted a proposal to the central bank on the regulation of domestic crypto assets.
Pronin said at the cryptocurrency regulation seminar that the Sberbank's proposal will make the regulation of cryptocurrency assets similar to the way bank account assets are supervised, and that the bank will guarantee the safety of tokens. Storing crypto assets on behalf of clients means that if law enforcement suspects misconduct, these assets may be frozen, but this move can make trading operations more convenient and protect accounts from hacking.