Which is Russia’s largest banking institution?

Russia’s largest banking institution, Sberbank, is reportedly looking into whether it should launch its own stable coin and the system of биткоин на сбербанк

, which are digital currencies that are pegged or backed by real-world assets, major fiat currencies, or commodities such as gold. Sergey Popov, director of state-owned Sberbank’s transaction business, said that the institution is considering issuing its own stable coin which might be pegged 1-to-1 to the Russian ruble. If launched, the bank’s stable coin would comply with Russia’s recently introduced cryptocurrency law, according to local news outlet Kommersant. The stable coin, which is still under consideration, might be used for settlements that involve other digital or virtual financial assets.