Sberbank, Russia’s largest lender, plans to offer custody services for cryptocurrency assets, aiming to lead the country’s digital asset infrastructure as demand for bitcoin and crypto services grows.

The move comes as Russia’s central bank has softened its stance on digital assets, recently supporting legislation that allows businesses to use bitcoin and crypto in international trade to bypass Western sanctions imposed on Russia over its conflict in Ukraine.

The executive director of Sberbank Anatoly Pronin said the bank has submitted proposals to the central bank regarding the regulation of bitcoin and crypto assets. He noted that more banks globally are starting to…

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