Sberbank, The Leading Bank In Russia, is Interested In ATMs That Support Crypto

News • 2020/05/28 • by Remitano

Sberbank, the biggest bank in Russia, is interested in ATMs that support cryptocurrencies. According to reports, Sberbank has announced a project involving 4,917 new ATM machines with graphic cards inside each machine. More interestingly, these graphic cards should be able to support “blockchain operations.”

The problem is that nobody truly knows what Sberbank actually wants. Some crypto figures are speculating that there are several possibilities here. Firstly, it’s possible that Sberbank wants to use these ATMs for cryptocurrency mining. There are some speculations out there about Russia wanting to issue its own CBDC (Central Bank Digital Currency), where it would utilize Sberbank’s new ATMs for the mining operation.

Another possibility is that the tender document’s details contain some mistakes with the graphic card being needed only for graphic identification on each ATM.

Either way, it’s interesting to see what Sberbank is trying to do with ATM machines with their own built-in graphic cards. Crypto publication websites are already speculating their own “what if?” scenarios, but it’s much better for us to wait for further clarification from Sberbank.

Sberbank itself is a huge bank with 14,200 branch offices and 77,000 ATMs in Russia alone. Any crypto adoption by the bank would validate crypto legitimacy in the eyes of the Russians.