TLDR
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Sberbank plans crypto wallet access through its banking and investment apps.
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Russia’s new digital asset bill could take effect on September 1.
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Sberbank targets a digital depository for crypto storage by December.
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Moscow Exchange, VTB, and T-Bank also plan regulated crypto services.
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Russia is shifting from crypto limits toward licensed market access.
Sberbank plans to launch a crypto wallet and digital depository as Russia prepares new rules for digital assets. The bank aims to add authorized crypto transactions to its main financial apps. The move places Russia’s largest lender inside a market long shaped by restrictions.
Sberbank Prepares Wallet for Regulated Crypto Access
Sberbank plans to introduce the wallet through Sberbank Online and SberInvestments after lawmakers approve the new bill. Kirill Tsarev, first deputy chairman at Sberbank, outlined the plan during the Bank of Russia Financial Congress. He said the bank would prepare client services as regulations take shape.
The bill, called “On Digital Currency and Digital Rights,” could take effect on September 1. Bank of Russia First Deputy Chairman Vladimir Chistyukhin gave that timeline, according to RBC. Sberbank expects clearer deadlines after authorities publish the final text.
Sberbank also plans to build infrastructure for crypto trading and digital asset accounting. The bank targets December 1 for a digital depository that stores and records crypto holdings. App-store availability may affect the rollout, especially across mobile platforms.
Russia Builds Licensed Crypto Market Structure
The new framework will create licensed firms for several crypto market services. These firms may handle trading, custody, digital-to-fiat exchange, and cross-border crypto settlements. Banks and exchanges can enter the sector under direct regulatory control.
Sberbank may also consider acting as a domestic intermediary for foreign crypto exchanges. That role would depend on Russian requirements and conditions set by foreign trading venues. The proposal could allow Russians to access overseas platforms through approved local firms.
Moscow Exchange also plans to launch crypto operations by the end of 2026. The exchange expects to act after lawmakers approve the bill and regulators issue related rules. Meanwhile, VTB and T-Bank plan to create their own digital depositories.
Russia Shifts From Restrictions Toward Controlled Access
Russia has spent years limiting crypto use inside its domestic financial system. The Bank of Russia pushed for broad restrictions in 2022 because of financial stability concerns. However, the Finance Ministry supported regulation instead of a full market ban.
President Vladimir Putin later signed rules that restricted crypto payments for goods and services. Yet sanctions increased demand for alternative settlement channels after Russian banks faced payment barriers. As a result, Russia legalized crypto mining and experimental cross-border crypto settlements in 2024.
The new rules will allow local crypto trading under testing and annual limits for non-qualified participants. Market firms will receive a transition period until July 1, 2027, to join the official registry. Sberbank’s plan shows how major Russian banks now expect a controlled crypto market to emerge.
