Two Russian financial institutions test the ICO platform of the Bank of Russia

Two Russian financial institutionsaim to make OICs safer and more transparent for traditional investors. To do this, the National Settlement Depository (NSD)and Sberbank CIB will lead a pilot project to implement ICO, launched by the Bank of Russia.

Russia's central bank drives the country's first official ICO

According to forecasts by Sberbank, an investment bank and National Settlement Depository, the largest bank in Russia, the pilot project will begin as early as this summer. This partnership aims to achieve an ICO on a regulatory platform established by the Bank of Russia, the country's central bank.

The regulatory platform was created last April to pilot test new financial services and technologies that require legislative changes before any application.

The ICO will be launched by Level One, a well-known commercial conference site in Moscow.

Sberbank " will act as an organizer and lead investor in Level One's ICO. "

Also, both financial institutions will be able to mitigate the risks associated with the realization of the ICO, through feedback from the central bank. A transaction register will track and protect digital assets. The performance of the international investment agency will be evaluated at the same time, to ensure transparency and reduce risks to investors.

Our ultimate goal is to create the fundamental foundation for the development of the digital economy in our country, for the emergence of a new type of asset for investors, for ICO's ecosystems, and for the circulation of assets in the secondary market, said Eddie Astanin, President of NSD. In collaboration with market leaders, we are implementing a project that would create an infrastructure to record digital assets.

Russia shows growing interest in Initial Coin Offering

Many Russian companies plan to fundraise through an Initial Coin Offering.

Igor Bulantseve, Director and Vice President of Sberbank CIB, said:

Sberbank CIB believes that the Russian ICO market is very promising. Many Sberbank customers are interested in this type of investment, and we plan to proactively promote this service; once the appropriate legislative framework comes into effect. We will be there to institutionalize and popularize this type of transaction.

What do you think of the pilot project of ICO, in the traditional banks of Russia? Comment in the comments section below.