Sberbank will hold Russia’s first official ICO

At the end of last year the FAS of Russia and Sberbank for the first time in Russia used the blockchain at the official level. The Bank and the Agency launched the document management system based on a distributed registry. Now financial institution, German Gref will go further — Russia’s largest Bank will hold the ICO educational lecture Level One. This writes TASS.

ICO in Russia. New era

The initial placement of tokens, Level One, owner of Moscow’s biggest commercial center, will be held before the end of summer 2018. Organization the ICO will deal with Sberbank and the Moscow stock exchange, national settlement Depository (NSD).

The amount that is going to involve Level One, was not disclosed. To purchase tokens, the company will be able to only qualified investors and only in rubles. According to the Agency, the location should be the model for other similar projects in Russia.

The first transaction using licenzirovanie assets is planned by the end of summer 2018. Accounting tokens and calculations upon their issue and circulation first planned to implement using the financial market infrastructure — the National settlement Depository. Sberbank CIB will act as the issue Manager and anchor investor of the produced tokens Level One, NSD will act as the custodian of the transaction, carry out the storage of digital assets, their registration and accounting.

According to the head of Sberbank CIB Igor Bulantsev, the interest to ICO show many customers of a financial institution.

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.

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