Share this article
Sberbank CEO: Commercial Blockchains Just Two Years Away
The CEO of Russia's largest bank believes commercial blockchain applications are closer than many experts have projected.
By Pete Rizzo
Updated Sep 11, 2021, 1:06 p.m. Published Feb 17, 2017, 1:50 p.m.
Make us preferred on Google
The CEO of Russia's largest bank is increasingly bullish about enterprise blockchain.
In new statements today, Sberbank CEO Herman Gref said that the use of distributed ledger technology by banks and other incumbents could be just two to two-and-a-half years away.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to a report by Russia-based business news platform Prime, Sberbank is developing its own applications of the technology within a special working group headed by members of the domestic government.
Gref went on to describe this as a huge step forward for the technology, adding:
"Maybe they are a bit optimistic, but two to two-and-a-half years is the horizon within which we can speak about the application of blockchain commercial operation."
The statements follow notable action from Sberbank, which joined a Russia-based fintech consortium in August guided by the direction of the nation's central bank.
However, Gref's personal sentiment about the technology is nothing new.
As far back as December 2013, Gref has spoken out about bitcoin and public blockchains, going so far as to suggest that the technology not only had potential, but that it shouldn't be prohibited by regulators.
To learn more about the bank's work, read our latest interview with Sberbank here.
Herman Gref image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here's what Fed's highly anticipated rate decision this week means for bitcoin and the dollar
Powell could signal a "dovish pause," but his comments on other issues may temper the bullish reaction in BTC and other risk assets.
What to know:
- The Fed is expected to keep rates unchanged this Wednesday.
- Powell could signal a "dovish pause," powering risk assets, including bitcoin, higher.
- His explanation of the status quo decision might put a floor under the dollar.
- Powell may get questions on the impact of Trump's housing affordability measures, perceived threat to Fed's independence and tariffs.
Top Stories
