💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Russia’s Largest Bank Confirms It Will Not Develop Crypto-Related Services

Published 06/07/2019, 08:41 AM
Updated 06/07/2019, 09:03 AM
Russia’s Largest Bank Confirms It Will Not Develop Crypto-Related Services

The CEO of state-owned Russian bank Sberbank has officially confirmed the institution’s decision to not develop crypto-related services, local financial publication Banki.ru reports on June 7.

Herman Gref, Sberbank CEO and a former minister of economics and trade of Russia, claimed that the bank has never had any ambitious plans in the crypto space. Instead, the bank will now focus on blockchain applications for its services. Gref reportedly made his comments in an interview with local free-to-air TV channel NTV at the Saint Petersburg International Economic Forum.

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.