Sberbank's Swiss subsidiary will trade in cryptocurrency

posted 9 months ago
The subsidiary structure of Sberbank in Switzerland is preparing to begin trading in cryptocurrency for customers, said Andrei Shemetov, vice president of Sberbank and head of global markets for investment - Sberbank CIB. This is the first time a service of this kind is being offered by Russian banks.

Shemetov explained:
"The product is very risky, the volatility is very large, so we will not provide these services to a wide mass of customers... We are now preparing the entire infrastructure in order to start providing services within the Swiss subsidiary... We are building a full trading setup so that we can both open our own position and provide customer services, that is, buy and sell to customers."
Tags: bitcoin, news