Sberbank and VTB, the two biggest banks in Russia, are not willing to move into the cryptocurrency market in the near future as their CEOs believe that crypto is either too risky or fake money.
Sberbank CEO Herman Gref said that cryptocurrencies like Bitcoin (BTC) are probably the riskiest type of investment alongside the equity market. In a Thursday interview with local TV channel NTV, Gref claimed that a banking deposit is the best investment option as it is associated with the least amount of risk despite low returns: