Russian Sberbank to Establish Crypto Exchange in Zurich, Switzerland

[kreslik.news]

Sberbank, the largest bank in Russia and third-largest in Europe, is developing plans to establish a cryptocurrency exchange in crypto-friendly Switzerland.

Andrey Shemetov, Sberbank’s head of global markets, told reporters at a news briefing on Tuesday that Sberbank’s decision to establish the exchange outside of Russia was made “in order to avoid violating domestic rules’ while ‘[serving] clients in what is a popular market for some investors.”

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According to Shemetov, Sberbank’s plan is to establish a Swiss branch that will be known simply as ... (read more)