Sberbank has announced that it will offer cryptocurrency custody services, according to Reuters. This initiative marks a shift in banking operations and is consistent with the country's attitude towards digital assets. Sberbank's CEO for alternative payment solutions, Anatoly Pronin, stated that the bank had already proposed new regulations to the central bank.
These regulations would ensure the secure management of crypto assets, regulating them similarly to traditional bank accounts. Sberbank's custody services are designed to safeguard digital assets while also allowing their use in financial transactions.
Pronin, in a statement, noted that the proposal was designed to meet the growing demand for regulatory cryptocurrency services. He assured interested clients that their tokens would remain safe in Sberbank's custody services. He also clarified that, with the new offering, the bank could freeze assets so that, in the event of an illicit syndicate, transactions would be secure and interventions would be less prone to cyberattacks.