The Russian bank, Sberbank CIB and the National Settlement Depository, will try the first process of the initial Coin Offering (ICO) using the regulatory framework of the Bank of Russia, According to reports ForkLogreports .
Where he stated Igor Bulantsev, President of Spearbank CIB, said that the bank considers the initial market for the Russian digital currency "very promising" asserting that many of the bank's customers "are interested in this new way to raise money".
The proceeds of the initial ICO demo will be used to launch new online services by Level One, the company that runs the largest business lecture hall in Moscow.
Eddi Astanin, of the National Settlement Depot, told the local media platform in Vedomosti that the project will only be sold in rubles and will be open exclusively to "qualified" investors.
The Bank of Russia also announced the launch of a regulatory framework in mid-April this year, allowing Russian oil technology companies the opportunity to test new technologies without risking violation of local law. A partner of investment company Add.Capital, Alexei Prokofiev, told Videmosti that the initial offering of the new ICO promised to provide "a real experience to understand the legal aspect of the future implementation of Digital tokens and Blockchain.