Sberbank is considering the possibility of working with ICO

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The savings Bank and national settlement Depository (NSD) has summed up the work of the ICO in the “sandbox” of the Bank of Russia. In may they undertook a pilot project to attract funding originally proposed by tokens (ICO) in the regulatory “sandbox”. The pilot is implemented on the platform Mastercan, the Issuer has made by providing the service of commercial lectures in Moscow on a company Level One.

“In the course of conducting transactions on the test environment were placed 285 800 tokens that were transferred from the account of digital assets (CA) of the Issuer to the account of Sberbank. Further, several tokens were used to pay block of online jobs offered by the Issuer that was technically implemented by transfer of tokens from the account of the savings Bank to the account of the Issuer CA”, – stated in the press release financial institution.

At the end of the pilot, the Issuer disposed of received from Sberbank tokens, sending them to bad address in the blockchain, since the transaction terms of the offer, the tokens are not reused.

“As a result of testing were confirmed advantages ICO, – noted the participants of the project. In particular, wide access to investment projects to an audience of institutional investors and their customers; access to investment in tokens with minimal funds and resources; access of individuals to investment in tokens through financial institutions, customers where they already are.”

Participation in the “sandbox” of the Bank of Russia gave an opportunity to the experts of the Bank and departments, and also to form a working road map for the creation of legal conditions for the provision of the service, to evaluate such transactions and minimize related risks.

According to a press release of the Bank, the adoption of the draft laws on digital of financial assets will allow the savings Bank and NSD to build up expertise and to attract funding through ICO for a wide range of its customers who show interest in this method of financing.

“Customers of the savings Bank are showing interest in this method of financing, and we are ready to provide this service after the entry into force of the relevant legislation, addressing one of the drivers of institutionalization and popularization of this type of transactions,” – said the Vice-President of Sberbank, head of global markets Andrey Shemetov.

“According to our estimates, about 10 % operations with digital assets ($200 billion) in the world carry out the retail investors. In the presence of the legislative framework, they will potentially be able to operate in Russia using Russian infrastructure. Our goal is and contribute to the implementation of the national policy on the digitization of the economy including the emergence of a new asset class for investors, as well as ecosystems for the ICO and the treatment of digital assets in the secondary market,” – said the Chairman of the Board of NSD Eddie Astanin.

“Tokenization assets in the blockchain allows participants to safely and quickly conduct financial operations. Note that the appearance of such projects Mastercare demonstrates the relevance and high interest in blockchain-side of the financial market”, – said managing Director of aft Tatyana Zharkova.

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