{"id":295508,"date":"2023-02-03T17:29:41","date_gmt":"2023-02-03T17:29:41","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=295508"},"modified":"2023-02-03T17:29:57","modified_gmt":"2023-02-03T17:29:57","slug":"russia-based-sberbank-to-launch-defi-platform-on-ethereum","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/russia-based-sberbank-to-launch-defi-platform-on-ethereum\/","title":{"rendered":"Russia-based Sberbank to launch DeFi platform on Ethereum"},"content":{"rendered":"

Russian leading lender Sberbank has hinted at plans to launch decentralized finance (DeFi) platform on the Ethereum blockchain by the end of May, 2023, Interfax<\/a> news reports.<\/p>\n

Sberbank director of the blockchain laboratory Konstantin Klimenko disclosed that the Russian bank was at an advanced stage of developing its DeFi platform.<\/p>\n

He said that the Ethereum-based protocol is currently in beta testing mode but will be available for open testing in March.<\/p>\n

At the end of April, the platform will be fully open, and then it will be possible to carry out some commerical operations on it,' Klimenko added.<\/p><\/blockquote>\n

Users will need a MetaMask crypto wallet to connect and trade on the Etheruem-based DeFi platform.<\/p>\n

Klimenko said that he is optimistic that DeFi platforms could reduce banking costs and eventually replace traditional banks.<\/p>\n

Serbank had earlier received approval to issue digital assets and moved to launch Russia's first blockchain exchange-traded fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Russian leading lender Sberbank has hinted at plans to launch decentralized finance (DeFi) platform on the Ethereum blockchain by the end of May, 2023, Interfax news reports. Sberbank director of the blockchain laboratory Konstantin Klimenko disclosed that the Russian bank was at an advanced stage of developing its DeFi platform. He said that the Ethereum-based […]<\/p>\n","protected":false},"author":1378,"featured_media":295604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76747],"tags":[],"post_folder":[],"acf":[],"yoast_head":"\nRussia-based Sberbank to launch DeFi platform on Ethereum<\/title>\n<meta name=\"description\" content=\"Sberbank executive Konstantin Klimenko said that the bank's DeFi platform will be open for commerical operations at the end of April.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/russia-based-sberbank-to-launch-defi-platform-on-ethereum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia-based Sberbank to launch DeFi platform on Ethereum\" \/>\n<meta property=\"og:description\" content=\"Sberbank executive Konstantin Klimenko said that the bank's DeFi platform will be open for commerical operations at the end of April.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/russia-based-sberbank-to-launch-defi-platform-on-ethereum\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-03T17:29:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-03T17:29:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/02\/ethereum-defi.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Christian Nwobodo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Christian Nwobodo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/russia-based-sberbank-to-launch-defi-platform-on-ethereum\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/russia-based-sberbank-to-launch-defi-platform-on-ethereum\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/#person\",\"name\":\"Christian Nwobodo\",\"url\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/christian-nwobodo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/chriscen-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/chriscen-author-300x300.jpg\",\"caption\":\"Christian Nwobodo\"},\"jobTitle\":\"Journalist\",\"description\":\"Christian is a crypto-curious nerd who loves to investigate how protocols work under the hood. 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