Share this article
Sberbank Considers Russian Blockchain Consortium
One of Russia's largest banks is in discussions to join a domestic bank consortium that would study blockchain technology.
By Pete Rizzo
Updated Sep 11, 2021, 12:27 p.m. Published Aug 22, 2016, 5:14 p.m.
One of Russia's largest financial institutions is in discussions to join a domestic bank consortium that would study blockchain technology.
Announced in April, the consortium effort is being led by Russian payments firm Qiwi and international consulting firm Accenture. Banks said to be participating in the initiative, according to government news source TASS, include B&N Bank, MDM Bank, Bank of Khanty-Mansiysk and Tinkoff Bank.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
President of Sberbank German Gref remarked late last week that talks about the consortium remain in early stages.
Gref said:
"We are now discussing this with the Central Bank. If the Central Bank [and] all participants agree, then we are definitely going to participate, but we are in active negotiations."
The news comes at a time when Russia-based financial firms are becoming more ambitious in their plans for blockchain technology.
Qiwi, for example, recently said it could transition to a blockchain settlement system within five years. Elsewhere, the National Settlement Depository, the country’s sole central securities depository, is testing applications for the tech in its operations.
Image credit: Vladimir Wrangel / Shutterstock.com
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
Top Stories
