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LATEST: Russia’s biggest bank launches crypto DeFi platform ‘to circumvent Western sanctions; raises new money laundering risk’

DeFi: The logo of Russia's lender Sberbank is seen at the trading floor of its headquarters in Moscow, Russia.

RUSSIA’S largest lender, the sanctioned bank Sberbank, plans to launch a decentralised finance (DeFi) platform within the next few months.

Observers see the move by the bank, reported by Interfax Russian news agency, as an attempt to circumvent sanctions and provide foreign currency for crippled Kremlin backed industry.

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