Russia's Sberbank gets license to issue cryptocurrencies on its platform

Russian lender Sberbank (OTCPK:SBRCY) (OTCPK:AKSJF) on Wednesday has been cleared to issue cryptocurrencies on its proprietary platform, according to a release. “Companies will be able to make their first transaction on our blockchain platform one month from now," said Sergey Popov, director of the Transaction Business Division, Sberbank. To ensure data security, digital financial assets ("DFAs") issued on Sberbank's crypto platform will be recorded and circulated via an information system based on distributed ledger technology, the release said. "We are just starting our work with digital assets, realizing that further development requires adaptation of the current regulatory framework," Popov said "To do that, we are ready to work closely with the regulator and executive bodies.” The news comes as Russia's economy increasingly becomes isolated from the world given Western sanctions against the country. Sberbank in particular was sanctioned on Feb. 24, with its ADRs down nearly 100% since then. Looking at intraday crypto price