From Cointelegraph
Russian bank Sberbank CIB and the National Settlement Depository (NRD) will pilot the country’s first official Initial Coin Offering (ICO) using the Bank of Russia’s regulatory sandbox, ForkLog reports today, May 24.Read more: https://cointelegraph.com/news/russian-central-bank-to-pilot-first-official-icoSberbank CIB, the investment banking arm of major state-owned bank Sberbank, and NRD, which is part of the Moscow Stock Exchange Group, are now finalizing plans with the central bank to launch the project by the end of summer 2018.
Sberbank CIB’s head Igor Bulantsev said that the bank considers the Russian ICO market to be “highly promising,” emphasizing that many of the bank’s clients “are interested in this new way of fundraising.”
The experimental ICO proceeds will reportedly be used to launch new tokenized online services by Level One, a company that runs the largest commercial lecture hall in Moscow.
NRD’s Eddi Astanin told local media platform Vedemosti that the project’s tokens would only be sold for rubles and be open exclusively to “qualified” investors.
I think you could consider Venezuela's recent foray into crypto, with their supposed petroleum backed crypto currency, a beta test for Russia's upcoming coin. Allegedly Russia was the one doing all the real work and development of the Venezuelan coin. I don't envision myself purchasing either of these coins in the future. In all likelihood using either is probably only aiding them in skirting sanctions.
Leave your thoughts in the comments below.
Follow 