One of Russia's largest state-owned banks is developing crypto-banking services for institutional clients

Gazprombank, a state-owned Russian bank, announced that it is developing "cryptocurrency-linked banking services" for financial institutions, institutional clients, and corporations participating in crypto. The new offerings will include crypto custody, cryptocurrency investments, as well as crypto payment services. According to Gazprombank the release of these services is "expected to be made in several steps over the course of 2019 and upon FINMA’s authorization of the products." Gazprombank is Russia' third-largest bank, by assets under management. The bank is regulated in Switzerland and is a subsidiary of Gazprom, the world's largest oil producer. (Source: Gazprombank)