Russia’s largest bank is preparing to make a major move into the cryptocurrency market.
Sberbank has confirmed plans to launch its own cryptocurrency wallet and digital asset custody service shortly after Russia’s new digital asset legislation comes into force on September 1. The initiative marks another step in the country’s effort to build a regulated digital asset ecosystem while expanding access to cryptocurrencies through traditional financial institutions.
The launch is expected to coincide with Russia’s broader rollout of both its new crypto framework and the long-awaited digital ruble.
Sberbank plans crypto wallet launch
According to a report by local news outlet RBC, Sberbank intends to integrate a cryptocurrency wallet directly into its mobile banking application soon after the new legislation becomes effective.
The bank also expects its dedicated digital asset depository to be operational by December 1, allowing customers to securely store digital assets within a regulated banking environment.
First Deputy Chairman Kirill Tsarev said the rollout schedule will depend on the publication of the final version of the legislation, as well as approval of updated Sberbank mobile applications in major app stores.
He noted that Android users may receive access to the new crypto features before iPhone users because of differences in application distribution.
Bank considers access to foreign crypto exchanges
Beyond launching its own wallet, Sberbank is also evaluating whether it should serve as an intermediary for customers wishing to trade on foreign cryptocurrency exchanges.
The proposal is currently being considered as part of amendments to Russia’s upcoming digital asset legislation.
According to Tsarev, any decision will depend on the final regulatory framework adopted by Russian authorities, along with compliance requirements imposed on international cryptocurrency exchanges.
If approved, the move could provide Russian investors with regulated access to overseas crypto trading platforms through one of the country’s largest financial institutions.
Sberbank expands its digital asset strategy
The latest announcement builds on several blockchain initiatives Sberbank has pursued over the past two years.
In December, Deputy Chairman Anatoly Popov revealed that the bank was exploring crypto-backed lending, while working closely with regulators to establish the legal and technical infrastructure required for digital asset financing.
Sberbank has also been actively developing its own digital asset platform.
According to the bank, it completed more than 160 digital asset issuances during 2025 while continuing to explore opportunities involving:
- Asset tokenization
- Digital financial instruments
- Decentralized finance (DeFi)
- Blockchain-based financial services
These projects reflect Sberbank’s broader strategy of expanding digital asset offerings within Russia’s regulated financial system.
Russia prepares new licensing framework
Sberbank’s plans come as Russia finalizes one of its most comprehensive cryptocurrency regulatory frameworks to date.
According to First Deputy Chairman of the Central Bank Vladimir Chistyukhin, the new legislation is expected to take effect on September 1.
Under the proposed rules, companies providing cryptocurrency services—including trading, custody, and cross-border settlement—will be required to operate under a formal licensing regime.
The objective is to create greater oversight while allowing regulated financial institutions to participate more actively in the country’s growing digital asset market.
Other major banks are preparing similar services
Sberbank is not the only financial institution entering the sector.
Reports indicate that VTB, Russia’s second-largest bank, and T-Bank Group are also preparing to launch digital asset custody services once the legislation becomes effective.
Meanwhile, the Moscow Exchange has announced plans to introduce cryptocurrency-related products before the end of 2026, further signaling the country’s gradual integration of digital assets into its traditional financial infrastructure.
Digital ruble rollout also begins in September
The new crypto regulations will arrive alongside another major milestone for Russia’s financial system.
Earlier this month, Bank of Russia Governor Elvira Nabiullina confirmed that the country’s central bank digital currency (CBDC) remains on schedule for launch on September 1.
Major Russian banks, including Sberbank, are expected to begin offering digital ruble services through their mobile applications from the same date.
The simultaneous rollout of regulated crypto services and the digital ruble highlights Russia’s broader strategy of modernizing its financial system while maintaining regulatory oversight.
Outlook
Sberbank’s upcoming cryptocurrency wallet represents a significant milestone for Russia’s digital asset industry.
As the country’s largest bank, its entry into crypto custody and digital asset services could encourage wider institutional and retail adoption under the new regulatory framework.
Combined with the launch of the digital ruble and the introduction of licensing requirements for crypto service providers, Russia is positioning itself to build a more structured and regulated digital finance ecosystem.
If the legislation proceeds as planned, September could mark the beginning of a new chapter for cryptocurrency adoption within Russia’s banking sector.
