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Sberbank to hold the first official ICO in Russia


At the end of last year, FAS and Sberbank for the first time in Russia used blockade at an official level. The bank and the department launched a document management system based on the distributed registry. Now the financial organization of German Gref will go further – the largest in Russia bank will hold the ICO educational lecture level Level One. Reported by TASS.

ICO in Russia. New era

The initial coin offer of Level One tokens, owner of the largest commercial lecture hall in Moscow, will take place before the end of the summer of 2018. The organization of ICO will be occupied by Sberbank and the structure of the Moscow Stock Exchange, the National Settlement Depository (NRM).

The amount of funds that Level One intends to attract is not disclosed. Only qualified investors can buy tokens of the company and only for rubles. As the agency notes, the placement should become a model for other similar projects in Russia.

The first deal using tokenized assets is planned to be implemented by the end of the summer of 2018. Accounting for tokens and calculations for their release and circulation is planned for the first time using the infrastructure of the financial market – the National Settlement Depository. Sberbank CIB will act as the organizer of the issue and the anchor investor of the issued Level One tokens, the NRM will act as the custodian of the transaction, will store digital assets and register them.

According to the head of Sberbank CIB Igor Bulantsev, many clients of the financial organization show interest in ICO.

We intend to actively promote this service after the entry into force of the relevant legislation, acting as one of the drivers of institutionalization and popularization of this type of transactions.

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