Stablecoin

Sberbank is considering the possibility of issuing a ruble-pegged stablecoin

Sergei Popov, director of the Transaction Business Division of Sberbank, said that the bank is considering the possibility of issuing a digital token, the rate of which will be pegged to the ruble.

During the conference “Digital Financial Assets in Practice” Popov noted that the possibility of issuing such a stablecoin is being discussed now, and the decision will be made “in the near future.”

“From the bank’s point of view, it is also interesting for us. Probably, we can issue on the basis of the law that was adopted, a token that we can peg to the ruble, such a corresponding stablecoin, which can become the basis, a tool for settlements for some other digital financial assets, “Popov said.

We are talking about the law “On digital financial assets (DFA) and digital currency” signed at the end of July. The document defines the concepts of cryptocurrency and tokens and regulates the circulation of tokens on private blockchains. In addition, it prohibits the use of cryptocurrencies to pay for goods and services in Russia. The new law will come into force on January 1 next year.

Recall that, as the chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said earlier , in the first half of next year, Russian commodity companies will launch their own stablecoins for payments for the supply of goods.

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