New Delhi, Sept. 11 -- Russia's largest lender Sberbank sees significant potential for central bank digital currencies (CBDCs) to facilitate bilateral trade settlements with India, Herman Gref, CEO and chairman of the executive board of Sberbank, said on Friday. The central banks of the two countries are working on a mechanism that could make cross-border payments faster and more efficient, he added.

"Now is only the beginning. We see a huge opportunity for digital currency for all settlements between the countries," Gref said during a media briefing on the sidelines of the BRICS summit in New Delhi. He said trade settlement through digital currencies was more efficient and that digital currencies would see greater demand and faster grow...