Sberbank continuously expanding the features of its blockchain environment to bring a better ecosystem for every crypto project.
PJSC Sberbank is a Russian majority state-owned banking and financial services company. This bank is headquartered in Moscow. The services of this bank are available in many European nations but due to the Russia vs Ukraine conflict, the EU imposed many barriers against the financial services of Russian banks including Sber. Sber is also engaged in crypto & blockchain technology-based development works.
For a long time, Sberbank continuously worked in crypto & blockchain focussed development works. The current phase of the blockchain platform, developed by the talents of Sberbank, has the potential to allow the crypto Defi protocols to shift between the Uber blockchain & Public blockchain networks easily.
In the latest, Sber integrated the popular Ethereum network supported decentralised Web3 wallet “MetaMask” so that incoming crypto & blockchain projects can easily use the most trusted crypto funding support.
On 30 November, Sberbank officially announced this latest development work and also confirmed that Bank is allowing trusted third-party companies & developer teams to bring such development works.
Alexander Nam, the head of the Sber blockchain lab, said:
“Sber Blockchain Lab works closely with external developers and partner companies, and I am glad that our community will be able to run Defi applications on Uber’s infrastructure.”
The Blockchain Lab head also noted that such efforts will help this bank to bring a better collaboration between the developers, corporations and financial institutions to drag real & practical business focussed blockchain applications, Web3, and decentralised finance (Defi) services.
Crypto Hater Russia Moving Toward Crypto
Before this year, Russia was known as a crypto-hater country because rules in the Russian laws for the crypto sector were only allowing crypto trading but not protecting crypto investors against illegal crypto activities and also was not supporting the crypto circulation in the country.
But the Russia vs Ukraine conflict created a different situation for this country. To degrade the confidence of the Russian government, many big countries imposed financial restrictions on Russia, which caused a significant downfall in the Russian economy.
Now Russian government agencies are working to bring an international payment system with the use of crypto & blockchain technology to bypass all such kinds of centralised payment barriers easily.