Sunday, July 21, 2024

Sberbank, Russia’s largest bank, has launched the country’s first blockchain ETF securities.

Sberbank is the largest state-owned bank in Russia, as well as the largest provider of financial services within the country. On December 30th, Sberbank announced that they would be launching the first exchange-traded fund, or ETF, in the country. This ETF will be based on blockchain.

This opportunity will give investors a chance to enter the space of blockchain. The Asset Management team of Sberbank revealed that the ETF, just launched, will find itself linked to various blockchain, as well as cryptocurrency-based industries.

Sber-Blockchain Economy

The name of Sberbank’s new product is Sber-blockchain Economy, also known as SBBE. This product was created with the aim to give Russian investors the opportunity to make a profit within the crypto space. They can do so without needing to get involved with cryptocurrency directly.

This means that such investors won’t be directly involved in the development, storage acquisition, or sale of assets that are digital. Sberbank also revealed that they were the first bank in Russia to provide such services to investors. Within the Russian stock market, SBBE will be the first service related to blockchain and cryptocurrencies within the country.

SBBE and Range of Services

SBBE will come in tandem with a variety of services, such as tracking Sber’s Economy Index. SBBE will also be able to hold securities belonging to companies working with cryptocurrency, as well as their supportive technology.

The CEO of the Asset Management team of Sberbank, Evgeny Zaitsev, that such assets related to cryptocurrency are primarily concerned with those forms that are involved in developing technologies related to blockchain.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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