ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.


24hr ---

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story


Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
Ether Price Analysis
Contact Us

Subsidiary Of Russian State-Owned Bank May Conduct Cryptocurrency Pilot




A board member with Gazprombank has revealed that the financial institution could run a cryptocurrency-related pilot in Switzerland through a local subsidiary there.

According to reports from Russian media, the state-owned Gazprombank, which was founded by the majority state-owned oil giant Gazprom, might conduct a small cryptocurrency pilot in Switzerland through a subsidiary later this year.

One of the bank's deputy chairmen of the board, Alexander Sobol, told a news agency that the possible trial would be "some kind of pilot … It will not be on a grandiose scale ... There is a demand from large private clients for such services. Therefore, we are now looking at how we can organize this service for them."

He explained that because the laws pertaining to cryptocurrency are (or are expected to be) more permissive in Switzerland than in Russia, the European finance hub will offer a better environment for the project than the bank's own country.

Sobol also said that the cryptocurrency services developed by Gazprombank could be customer-facing or could serve more internal purposes; the bank has yet to decide.

It's unclear from the reports whether the institution that may conduct the pilot is Gazprombank Switzerland, which last month was barred from accepting new private clients by the central European nation's financial watchdog over a failure to uphold due diligence standards related to money laundering.

In January 2018, Russia's state-owned Sberbank announced that it was "working on infrastructure to start offering [cryptocurrency trading] services through" its own Swiss subsidiary, Sberbank AG.

Adam Reese

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam holds value in Ether, Bitcoin, and Monero.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Gazprombank, Gazprom or other Ethereum cryptocurrencies and tokens news.