{"id":170544,"date":"2023-02-04T17:26:08","date_gmt":"2023-02-04T17:26:08","guid":{"rendered":"https:\/\/precoinnews.com\/?p=170544"},"modified":"2023-02-04T17:26:08","modified_gmt":"2023-02-04T17:26:08","slug":"ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/","title":{"rendered":"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain"},"content":{"rendered":"<ul>\n<li>The bank is licensed to issue digital assets in Russia and has been exploring blockchain technology in banking.<\/li>\n<li>Two years ago, Sber released the first blockchain-focused ETF.<\/li>\n<\/ul>\n<p>Russia\u2019s largest lender Sberbank is working on a decentralized finance (DeFi) platform to launch in May on Ethereum. According to a report shared with the local news agency, Interfax, the system is currently running a closed beta that will turn into open testing in March.<\/p>\n<p>The announcement was made during the 7th Perm Economic Congress Friday by the product director of Sberbank Blockchain Laboratory, Konstantin Klimenko, who described the technology as the new banking of the future. \u2018\u2018We have set a big goal for ourselves, to make the Russian DeFi ecosystem number one,\u2019\u2019 he said.<\/p>\n<h2><strong>The Defi Network is to Be Operational by April<\/strong><\/h2>\n<p>Klimenko said, as of April,\u00a0the new system would be operational and support commercial transactions. It would run on Ethereum and be accessible on the crypto wallet extension MetaMask, he noted, adding that the DeFi service has the potential to replace conventional banking.<\/p>\n<p>Decentralized Finance or DeFi is a system that lets users access financial services like \u2013 lending, investments, and insurance \u2013 on a distributed ledger technology, also known as a blockchain. It uses smart contracts or self-executing computer programs that work on the principle of anonymity and are not controlled by third parties.<\/p>\n<p>It is not the first time that Sber bank is exploring blockchain technology, especially in light of the sanctions against Russia since it invaded neighbouring Ukraine. In March 2022, the lender won a license for the issuance and exchange of digital assets, shortly after sanctions forced it to scale down operations in most European countries.<\/p>\n<p>Even before the license was issued, the bank was already working on the then-first blockchain-focused ETF in Russia as of 2021. Known as Sber Blockchain Economy ETF, the fund gives investors exposure to crypto trading companies like Coinbase.<\/p>\n<p>Source: <a href=\"https:\/\/zycrypto.com\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bank is licensed to issue digital<\/p>\n","protected":false},"author":3,"featured_media":170543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"The bank is licensed to issue digital\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-04T17:26:08+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/02\/Ethereum-to-Host-Sberbank-DeFi-Platform-as-Russia-Shifts-Focus-to-Blockchain.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/\",\"url\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/\",\"name\":\"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2023-02-04T17:26:08+00:00\",\"dateModified\":\"2023-02-04T17:26:08+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ethereum\",\"item\":\"https:\/\/precoinnews.com\/category\/ethereum\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/","og_locale":"en_US","og_type":"article","og_title":"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain - Pre Coin News","og_description":"The bank is licensed to issue digital","og_url":"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/","og_site_name":"Pre Coin News","article_published_time":"2023-02-04T17:26:08+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2023\/02\/Ethereum-to-Host-Sberbank-DeFi-Platform-as-Russia-Shifts-Focus-to-Blockchain.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/","url":"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/","name":"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2023-02-04T17:26:08+00:00","dateModified":"2023-02-04T17:26:08+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/ethereum\/ethereum-to-host-sberbank-defi-platform-as-russia-shifts-focus-to-blockchain\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Ethereum","item":"https:\/\/precoinnews.com\/category\/ethereum\/"},{"@type":"ListItem","position":3,"name":"Ethereum to Host Sberbank DeFi Platform as Russia Shifts Focus to Blockchain"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/170544"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=170544"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/170544\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/170543"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=170544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=170544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=170544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}