Russia's Biggest Consumer Bank to Launch Blockchain Built Using Hyperledger Fabric

Russia's Biggest Consumer Bank to Launch Blockchain Built Using Hyperledger Fabric

By Abhimanyu Krishnan | News | 7 Aug 2020


Russia’s largest consumer bank, Sberbank, will launch a blockchain built using Hyperledger Fabric, with the possibility of a stablecoin launch also being discussed, according to Russian media outlet Vedomosti.

  • Nodes will be hosted on Sberbank’s cloud service SberCloud.
  • The network will be open and any firm can join and host a node
  • Sberbank’s deputy chair Anatoly Popov said that it was planning to launch a stablecoin pegged to the rule
  • The bank has said it was waiting for new regulation that will come into effect in January 2021, with no concrete plans yet
  • Sberbank’s blockchain will launch in Q3 2020

Related Reading:

  • Russia Proposes Up to 5 Years of Hard Labor For Illegal Crypto Use

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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