Russia’s largest bank is taking another step in its adoption of blockchain technology. After the launch of its stablecoin, SberBank announces support for the Metamask crypto wallet. The announcement also signals new opportunities for proprietary blockchain.
Sber, when Russia’s largest bank supports crypto
Despite the difficulties that the sector is currently going through, it continues to develop. While banks are still struggling to accept cryptos and all they stand for, the old Sberbank is taking a step forward and announcement Metamask support. According to the report, the development features integration into the Ethereum blockchain.
Sber is the largest bank in Russia, and for some years it has been at the forefront of countries developing blockchain projects. After the launch of Sbercoin, its stablecoin in 2021, it is now tending towards new developments. Indeed, support for the Metamask crypto wallet aligns with its recent developments in the cryptocurrency ecosystem.
The report also states that Sber Blockchain Lab, the new blockchain, will include application compatibility on Ethereum. Thus, developers will be able to transfer projects and smart contracts from the Sber blockchain to public networks. However, the last addition, and not the least, will be the integration of the Metamask crypto wallet.
According to the statements of Alexander Nam, head of the blockchain laboratory, Sber Blockchain Lab collaborates with many partners. He also states that this integration is a great opportunity for Sber. It will bring together developers and financial institutions. In addition, it also paves the way for him towards a Web3 and DeFi advancement. Considering its position on the ecosystem in recent years, this milestone marks a giant leap in the industry.
Although the crypto space has been struggling since the beginning of this year, projects are multiplying. Even if some exchanges and blockchains are struggling to stabilize, the enthusiasm of players in the sector gives hope. The integration of Metamask with Sber is undoubtedly news of a great journey.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
