Sberbank, the largest Bank of the Russian Federation, plans to launch a bitcoin Exchange in the Swiss branch, Sberbank Switzerland AG.

Head of global markets Bank Andrey Shemetov told RBC that the management chose Switzerland for the opening of the stock exchange, as at the moment the Russian laws do not allow conducting operations with cryptocurrencies, whereas in Switzerland cryptocurrency exchanges operate legally.

“We want to act in the interests of customers, so we consider it necessary to obtain strategic access to all types of products and services,” said Shemetov.

According to RBC, at the moment, Sberbank is developing trade infrastructure, but the Bank representative did not name the launch date of the exchange.

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