Playing in the sandbox

COPY THE LABENBACHER LOG – stories from around the world that you may have missed

The B52 founders live and breathe hybrid banking, so much so that Thomas Labenbacher collects related stories from around the banking world. He’s a veritable magpie, so here’s the latest tale to catch his eye. Let’s visit the Russia…


Playing in the sandbox

Russian bank Sberbank CIB and the National Settlement Depository (NRD) will pilot the country’s first official Initial Coin Offering using the Bank of Russia’s regulatory sandbox. The sandbox approach offers Russian fintech companies the chance to test new technologies without the risk of violating domestic law. Add.Capital investment firm partner Alexei Prokofiev said that the new experimental ICO promised, “A real experience of understanding the legal side of the future implementation of digital tokens and blockchain.”

Sberbank CIB’s head Igor Bulantsev said that the bank considers the Russian ICO market to be “Highly promising.” He added that many of the bank’s clients, “Are interested in this new way of fundraising.”

The experimental ICO proceeds will be used to launch new tokenized online services by Level One, the company running the largest commercial lecture hall in Moscow.

Thomas Labenbacher comments:

“B52 offers alternative financing services for any SME, Micro and startup business within legal boundaries and accessing new ways of financing. The corporate account goes far beyond a normal banking account; including accounting and financing administration services for daily needs.”

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