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Ethereum to Host Sberbank DeFi Platform As Russia Shifts Focus to Blockchain

Russia’s largest lender Sberbank is working on a decentralized finance (DeFi) platform to launch in May on Ethereum. According to a report shared with the local news agency, Interfax, the system is currently running a closed beta that will turn into open testing in March.

The announcement was made during the 7th Perm Economic Congress Friday by the product director of Sberbank Blockchain Laboratory, Konstantin Klimenko, who described the technology as the new banking of the future. ‘‘We have set a big goal for ourselves, to make the Russian DeFi ecosystem number one,’’ he said.

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