In line with a recent report published by native media outlet named ‘Banki.ru’, the chief executive officer of state-owned Russian Bank ‘Sberbank’ has confirmed the institution’s call to not develop any cryptocurrency-related services.
‘Herman Gref‘, CEO of Sberbank and a former minister of economics and trade of Russia, claimed that the bank has never had any plans within the crypto-currency ecosystem. Instead, the bank can now focus on blockchain apps for its services. Gref reportedly added his comments in his recent interview with native free-to-air television channel ‘NTV’ at the Saint Petersburg International Economic Forum.
Gref added that Sberbank never attracted any users in crypto-related activities in the institution, adding that such activity was rather a requirement of their customers. The official has outlined that he’s glad that the crypto market’s hype has seem to be gone, however that regular work with ‘blockchain‘ tech has sustained.
The Sberbank CEO conjointly outlined that he considers Bitcoin [BTC] as a “technical instrument for transactions,” instead of a kind of investment. He additionally shared his own story of investments in crypto assets, revealing that he had bought bitcoin when they were priced around $5 USD and used it for payment options rather than savings.
Gref noted that some products have turned out to be too pricey for him as bitcoin surged to be price what he referred as a “small fortune.” Adding that a part of his bitcoin holdings was lost along with codes, the official concluded that he’s “not a pro casino player.”
Earlier, Sberbank was ‘reported‘ to be halting its ‘cryptocurrency‘-related plans due to the Russian central bank’s negative stance on the crypto ecosystem, along with the lack of necessary required legislation. Also earlier in May, the bank had ‘requested‘ a consumer to submit certain details on their financial gain from crypto assets, as well as the client’s crypto wallet addresses, mining equipments and hash rate indicators.