Sberbank and Alfa-Bank carried out a pilot test of new services for the management of private capital related to cryptocurrency. In particular, we are talking about algorithmic solutions for investment portfolios consisting of the six most stable of digital assets. About it reports “Kommersant”.
The pilot will receive two draft — Perceptron R and RQ. They represent the exchange algorithms that are adaptive under the market situation with a low frequency of transactions, and automatically determine the weight of currencies in the portfolio. The content of the portfolio includes the six most reliable CFA, forming 75% of market capitalization; the set will be reviewed on a quarterly basis.
As in the case of other DLT-initiatives Sberbank products will be tested in the “regulatory sandbox” of the Central Bank. The project was created with the participation of the Fund AddCapital, National settlement Depository (NSD), Group IB and consulting company AltHaus.
The Deputy head of Sberbank Private Banking Anna Ivanchuk said:
“We want to offer our customers a completely transparent version of the entrance to digital assets, fully compliant with regulatory requirements, which will allow you to invest in the interesting product in Russia.”
Managing partner AddCapital Alexey Prokofiev adds:
“The customer actually receives the Fund. The Fund’s assets are stored using solutions to custody and ouderwetse cyber security Group IB. Pai liquid, request to exit Fiat currency the customer may at any time”.
To enter the product requires the presence in the official list of qualified investors as well as passing the minimum threshold of $500 thousand.
In a press-service of the Central Bank explained that the tests will take from one day to two weeks; it is expected that the complete process of piloting will not last more than 45 days after filing. However, its successful completion is no guarantee of using the products:
“The decision on whether to adopt the products tested will be taken by the Bank of Russia jointly with the state bodies only, subject to development of risk management mechanisms, ensuring their minimization,” — said the press service of the Central Bank.
It is reported that as Depositary for cryptocurrency will perform at NSD. Recall that the Agency already performs a similar function in the project to conduct demonstration ICO Sberbank CIB.
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