This year, Russia’s third-largest state-owned bank Gazprombank might conduct pilot deals with cryptocurrency through its subsidiary in Switzerland.

“Some kind of pilot deals, of course. It will not be on a grandiose scale, but for ourselves. There is a demand from large private clients for such services. Therefore, we are now looking at how we can organize this service for them,” said Deputy Chairman of the Board of Gazprombank Alexander Sobol to Interfax.

According to him, deals with the cryptocurrency are studied by the Swiss subsidiary bank, since in Switzerland in this area more liberal legislation.

According to him, the bank does not have a specific format for working with cryptocurrencies. Whether the bank will offer such services to customers or will conduct transactions only for its own investment, hasn’t been decided yet. “We are trying to follow the situation actively,” Sobol said.

At the moment in Russia, transactions with crypto-currencies are not regulated by law. In the near future, the State Duma is going to adopt the law “On Digital Financial Assets”. The law will set out the rules and restrictions for the cryptocurrency market in Russia.