Russia’s Largest Bank to Pilot First Official ICO

Russian bank Sberbank CIB, the investment banking arm of major state-owned bank Sberbank, and the National Settlement Depository, which is part of the Moscow Stock Exchange Group, will pilot the country’s first official ICO using the Bank of Russia’s regulatory sandbox. 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. The project’s tokens would only be sold for rubles and be open exclusively to “qualified” investors.

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