Russia's largest state-owned bank is considering a cryptocurrency-backed loan service.

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Russia's largest state-owned bank, Sberbank, is considering offering cryptocurrency-backed lending services, according to Russian state news agency TASS. Anatoly Popov, Deputy Chairman of the Board of Directors of Sberbank, told TASS that while regulation of the cryptocurrency market in Russia is still in its infancy, the bank is ready to work with regulators to develop relevant solutions and build infrastructure.

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