Two banks in Russia to set up crypto trading platforms for its clients while most financial institutions keep criticizing the new technology. We are talking about the two largest banks in Russia, Sberbank and Alfa-bank.
As usual, the aim is to promote the newly introduced technology in the country, shares will be offered to clients in a special new fund and they will be kicking off with just six cryptocurrencies like Bitcoin, Ethereum, BitcoinCash and Litecoin, the other two will be decideddecided later. The market data will be sourced from Kraken and Bitstamp. The six cryptocurrencies will be reviewed every 3 months and their weighted values will be adjusted by an algorithm, which will independently make them to fix themselves into the changing market conditions. The platform is designed to take the shape of an investment portfolio.