- The newest update will offer MetaMask integration.
- Sberbank has been in the forefront of Russian blockchain developments.
Sber, Russia’s biggest bank, now supports the MetaMask cryptocurrency wallet. In a drive toward DeFi and Web3, the bank has stated that blockchain technology has been integrated. Integration with the Ethereum ecosystem is shown through the advancement. The data also pointed to the untapped potential for its proprietary blockchain.
This development makes sense for Russia’s largest bank, Sber, given its progress in blockchain technology. This new blockchain would supposedly “include compatibility with smart contracts and applications on the Ethereum network,” according to the report.
DeFi Apps on Sber’s Infrastructure
This paves the way for developers to move smart contracts and whole projects from Sber’s blockchain to the public networks. As a bonus, the newest update will also offer MetaMask integration. Alexander Nam, who heads up the blockchain lab, commented on the new turn of events.
Nam stated:
“Sber Blockchain Lab works closely with external developers and partner companies, and I am glad that our community will be able to run DeFi applications on Sber’s infrastructure.”
In addition, Nam said that the new interface would help Sber bring together financial institutions and software companies. Finally, with the hope of discovering further practical applications of blockchain technology, Web 3.0, and decentralized assets in the business world.
Furthermore, in recent years, Sberbank has been at the forefront of Russian blockchain developments. As a result, the bank applied to introduce its own stablecoin in 2021; it will be called Sbercoin. When the application was finally accepted in June, Sber unveiled a digital offer. The next step on this path is the linking of Sber with the cryptocurrency wallet MetaMask.
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