Sberbank Launches New Platform for Trading Digital Assets and NFTs

Sberbank, the largest bank in Russia, has announced the launch of a new platform that allows retail investors to trade digital financial assets (DFAs) and non-fungible tokens (NFTs). The platform, which is based on blockchain technology, is open to all individuals who have a bank account with Sberbank.

What are DFAs and NFTs?

DFAs are tokenized versions of traditional assets, such as equity, debt, real estate, or metals. They are regulated by the Russian law that came into effect in 2021, which excludes cryptocurrencies from the legal definition of DFAs. DFAs can be issued, accounted, and circulated on blockchain platforms that have a license from the Central Bank of Russia.

NFTs are unique digital tokens that represent ownership of a specific item, such as art, music, or collectibles. They are created and traded on decentralized networks, such as Ethereum, and can have various attributes and features. NFTs have gained popularity in recent years, as they offer a new way of creating and monetizing digital content.

What does Sberbank offer on its platform?

Sberbank’s DFA platform offers a range of products and services for retail investors who want to access the emerging market of digital assets and NFTs. Some of the features include:

• A blockchain-powered asset that is pegged to the average cost of residential real estate in Moscow. The token, which tracks the value of the Sberbank Digital Square Meter Index (SBERDSMI), is available for qualified investors until February 15, 2024, and has a maturity date of December 16, 2026. Investors can sell the token back to the issuer before maturity, or hold it until the end of the term.
• A hybrid DFA that combines monetary and digital property aspects. The hybrid DFA, which is coming soon, will allow investors to benefit from both the stability of fiat currency and the potential of digital assets.
• An NFT trading platform that enables users to create, buy, and sell unique digital items, such as art, music, or games. The platform, which is also coming soon, will support various types of NFTs, such as ERC-721 and ERC-1155, and will provide a user-friendly interface and a secure environment for transactions.

Why is Sberbank launching this platform?

Sberbank is launching this platform to provide its customers with more opportunities and choices in the digital economy. The bank, which has a history of innovation and technology adoption, sees the potential of blockchain and digital assets to transform the financial industry and create new value for its stakeholders.

Sberbank is not the only bank in Russia that is exploring the possibilities of digital assets and NFTs. Other banks, such as Alfa Bank and Masterchain, have also obtained licenses from the Central Bank to issue and trade DFAs. Moreover, the Central Bank itself is working on developing a digital ruble, which is expected to launch in 2024.

How can users access the platform?

Users who want to access the platform need to have an account with Sberbank and register on the DFA portal. They also need to pass a verification process and agree to the terms and conditions of the platform. Once they are registered, they can view the available products and services, and start trading digital assets and NFTs.

The platform is accessible through the Sberbank Online app, the Sberbank Business Online portal, or the Sberbank Markets website. Users can also contact the bank’s specialists for more information and support.