Russia’s largest majority state-owned bank Sberbank has signed a partnership agreement with state-owned power giant Rossetti to propagate new technologies, an announcement confirms Friday, October 5.

The latest step in Sberbank’s in progress engagement with innovations like blockchain, the establishment and Rossetti can work along on a raft of ventures, as well as accelerators, education, analysis trials and exchange of experience.

Sberbank also will dispatch an adviser to Rossetti with the aim of “increasing the potency of its current operations and performance.” The energy company also will get access to a bank of “innovative laboratory developments” and product from the Sberbank system.

“The strategic partnership between Sberbank and Rossetti within the innovative growth field permits each firm to use the terribly latest technologies to remodel their business and consumer satisfaction,” Sberbank CEO Woody Herman Gref commented.

While the legal landscape close cryptocurrency – its usage, mining, and different activities – remains an unsure grey area in Russia before formal rules turning into law, the government has pledged full support for blockchain.

Since its 1st government-level implementation of the technology in December 2017, numerous initiatives still surface from the country’s most potent entities.

For its half, Sberbank was one amongst a two-party initiative to launch Russia’s 1st cryptocurrency investment fund in July, having antecedently signaled interest in launching cryptocurrency commercialism for shoppers at its Swiss branch.