Headline: Sberbank to roll out crypto wallet and depository as Russia’s digital-asset law nears activation
Russia’s largest bank, Sberbank, has confirmed plans to introduce a cryptocurrency wallet and a regulated digital-asset depository in the months following the expected activation of the country’s new digital-asset law on Sept. 1.
What Sberbank plans and when
- A crypto wallet will be integrated into Sberbank’s mobile apps “shortly” after the legislation takes effect.
- Its digital-asset depository infrastructure is slated to be operational by Dec. 1.
- First Deputy Chairman Kirill Tsarev said timing hinges on publication of the law’s final text and on app-store availability, with Android users likely to see updates before iPhone users.
Possible role as intermediary for foreign exchanges
Sberbank is also weighing whether to act as an intermediary that would enable Russian clients to trade on foreign crypto exchanges—contingent on both domestic regulatory requirements and the rules of the foreign platforms, Tsarev said. That would be enabled under a proposed amendment to the legislation if approved.
A broader push into digital assets
Sberbank has been steadily expanding its digital-asset activities. In December, Deputy Chairman Anatoly Popov said the bank was exploring crypto-backed lending and coordinating with regulators on the legal and technical infrastructure required for such products. Popov also revealed that Sberbank’s proprietary platform had completed more than 160 digital-asset issuances since early 2025, while the bank continues to assess decentralized finance (DeFi) and tokenization opportunities within Russia’s regulated financial system.
Regulatory backdrop and industry response
First Deputy Chairman of the Central Bank, Vladimir Chistyukhin, has indicated the new digital-asset framework is expected to take effect on Sept. 1. The legislation would require firms offering custody, trading and cross-border settlement services to operate under a licensing regime.
Other big players moving quickly
Sberbank won’t be alone. VTB and T-Bank Group have announced plans to establish digital-asset depositories after the law comes into force, and the Moscow Exchange has said it intends to begin crypto-related operations before the end of 2026.
Parallel CBDC rollout
The moves coincide with Russia’s planned digital-ruble rollout. Bank of Russia Governor Elvira Nabiullina said the central bank remains on track to launch the central bank digital currency on Sept. 1, with major banks expected to start offering digital-ruble services through their apps from the same date.
Why it matters
If implemented as planned, these developments would mark a significant step toward mainstreaming regulated crypto services within Russia’s banking sector—shifting custodial and trading services into licensed channels and potentially opening new rails for cross-border and tokenized financial products.
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