National settlement Depository (NSD) and Sberbank CIB, the corporate and investment business of Sberbank, going to test the ICO for regulatory site of the Bank of Russia. About it reported a press-service of Sberbank. The Issuer of the token will be the company Level One that manages the largest commercial lecture hall in Moscow.
Regulatory site of the Bank of Russia, intended for testing and implementation of new financial services and technologies, started in April this year. Evaluation of new services, the Bank of Russia gives in conjunction with state agencies, professional associations and institutions.
First deal with the application licenzirovanie assets to be held by the end of summer 2018. To account for the tokens and the calculations of their production and circulation, the organizers aim for the first time to use the national settlement Depository. Sberbank CIB will organize the release and anchor investor token-Level One, while NSD will handle the storage of digital assets, their registration and accounting.
This project will allow the savings Bank and NSD to evaluate the nuances of working with this kind of transactions, minimize risks, and to establish cooperation with the Bank of Russia in this region. The parties intend to make the Russian ICO transparent for investors and to ensure the high quality of their preparation and conduct.
Sberbank CIB and NSD’s hope that future laws “On digital of financial assets and attraction of investments using investment platforms” will allow them to scale the experience for a wide range of clients.
Senior Vice President of Sberbank, head of Sberbank CIB Igor Bulantsev commented on the new project:
Sberbank CIB considers highly promising Russian market ICO. Many clients of Sberbank CIB are showing interest in this method of financing, and we intend to actively promote this service after the entry into force of the relevant legislation, addressing one of the drivers of institutionalization and popularization of this kind of transactions.
The Chairman of the Executive Board Eddie Astanin with his hand said:
Our ultimate goal is to create a fundamental basis for the development of the digital economy in the country and the emergence of a new asset class for investors, as well as ecosystems for the ICO and the treatment of digital assets on the secondary market.