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Swiss subsidiary of Sberbank mulls option to open accounts in cryptocurrency

In Russia, Sberbank is involved in work on legislation that would allow people to legally open accounts, buy and sell crypto-currencies

© Vyacheslav Prokofyev/TASS

VLADIVOSTOK, September 7. /TASS/. The subsidiary bank of Sberbank in Switzerland is considering the possibility to open accounts in the crypto-currency, Senior Vice President of Sberbank, head of Sberbank CIB, Igor Bulantsev told TASS at the Eastern Economic Forum.

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"We are now studying the possibility of opening accounts in crypto-currencies in Switzerland. Sberbank Switzerland AG is working on it," he said.

"Demand for crypto currency is everywhere. Simply the Swiss law allows it: a banking license allows you to work with crypto-currencies without any additional licenses," he added.

The subsidiary Swiss bank of Sberbank works with legal entities, provides services to companies that belong to private banking clients.

In Russia, Sberbank is involved in work on legislation that would allow people to legally open accounts, buy and sell crypto-currencies, Bulantsev said.

"We are waiting for the legislative base to be formed, we have the demand for this service from a wide range of clients, and we are ready to work within the framework set by the law, so for now we are just studying this issue," Bulantsev said.

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