Sberbank CIB starts trading in Switzerland

The largest Russian bank Sberbank CIB plans to begin trading in cryptocurrency outside of Russia to avoid violating internal rules, said Andrey Shemetov, Vice President of the bank. According to him, it is not only about bitcoin, but also about such altcoins as Ethereum, Litecoin, and Dash which have enough liquidity to offset the risk. “Under Swiss law, trade in cryptocurrencies is allowed, and we are creating an infrastructure to offer these services through our Swiss subsidiary,” said Shemetov. The bank has a subsidiary Sberbank (Switzerland) AG, headquartered in Zurich.

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