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Russia-Based Sberbank To Launch DeFi Platform on Ethereum

Russian leading lender Sberbank has hinted at plans to launch decentralized finance (DeFi) platform on the Ethereum blockchain by the end of May, 2023, Interfax news reports.

Sberbank director of the blockchain laboratory Konstantin Klimenko disclosed that the Russian bank was at an advanced stage of developing its DeFi platform.

He said that the Ethereum-based protocol is currently in beta testing mode but will be available for open testing in March.

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