Russia’s largest state bank, Sberbank, is now exploring the world of decentralized finance, best known as DeFi in the cryptocurrency industry. Sberbank is one of a handful of traditional banks worldwide trying to profit from the DeFi market, which some have estimated to be a $13 billion market. Sberbank is building its own Ethereum tools on the Ethereum blockchain.
“This will give our clients access to new types of financial products and services,” a Sberbank spokesperson told me.
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