Recently, Russia’s National Settlement Depository (NSD) announced that they are working with Sberbank CBI to test the ICO issuance platform launched by the Bank of Russia.
“According to an announcement, in the testing environment, a company named Level One will launch a token sale, for which Sberbank will act as the "issuance coordinator and anchor investor." The NSD, on the other hand, will serve as the custodian, recording and settling transactions, as well as safeguarding the assets.”
The company also says that the platform will be totally transparent which would reduce the risk of traditional investors. The platform will be improved keeping in mind the feedback before scaling up for real-world use.
Igor Bulantsev, senior vice president of Sberbank and head of Sberbank CIB, said -
"Sberbank CIB considers the Russian ICO market to be very promising. Many Sberbank clients are interested in this type of investment, and we plan to promote this service proactively once the appropriate legislative framework comes into effect; we will be one of the drivers to institutionalize and popularize this type of transaction."
Chairman of the executive board at the NSD, Eddie Astanin shared his views stating that “the end goal of the project is to allow "the emergence of a new type of asset for investors" and the circulation of digital assets on the secondary market.”
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