Russian banking giant Sber, formerly known as Sberbank, is preparing to close its first digital currency deal soon using the bank’s own digital asset platform.

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The bank will conduct its first digital financial asset (DFA) transaction on its digital asset issuance platform by mid-July.

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Anatoly Popov, Deputy Chairman of the Board of Sberbank: disclosed On Sberbank’s plans to complete such a deal in an interview with the state news agency TASS on June 15.

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Popov claimed that Sber finally received registration with the country’s central bank, the Bank of Russia, in the spring of 2022 after a series of registration delays. Sber is struggling to register its digital asset issuance platform, which was originally scheduled to launch alongside the Sbercoin stablecoin by spring 2021.

Although the latest news does not explicitly mention the use of blockchain on the Sber platform, Popov noted that the bank is committed to exploring this technology, stating:

“We are closely following the development of new technologies such as distributed ledger technology. We study how blockchain technologies develop. Our platform has already passed acceptance tests and the first transaction will take place within a month.”

The news comes as VTB, Russia’s second largest bank, is also gearing up to test the purchase of a CFA in exchange for Russia’s central bank’s digital currency, the digital ruble, in September 2022. It is reported that VTB board member Svyatoslav Ostrovsky announced plans to launch a new platform for buying digital rubles at the St. Petersburg International Economic Forum on June 15.

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Russian parliament passed a new bill to ban the use of CFA as payment for goods and services on June 14 in the first reading.