Corporate and investment business of Sberbank of Sberbank CIB and the national settlement Depository (NSD) will hold the test ICO on the platform of the Central Bank of the Russian Federation. This was reported yesterday, the Agency RNS.
The Issuer of the token assigned to the company Level One that manages the largest commercial lecture hall in Moscow. Sberbank CIB will act as the issue Manager and anchor investor; in contrast, NSD is responsible for the storage of digital assets, their registration and accounting.
Demonstration ICO is intended to help identify and further reduce risks, and receive feedback from the Bank of Russia regarding the improvement of modalities of the ICO, including ensuring transparency of operations and protection of investors.
The Chairman of the Executive Board Eddie Astanin 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.”
According to the first Vice-President of Sberbank and head of Sberbank CIB Igor Bulantsev, many Russian companies are interested in ICO as in the method of funding:
“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 type of transactions,” he said.
The organization announced the launch of the ICO in just over a week after closing a full cycle on the placement of MTS stock on the blockchain NSD.