- Sberbank aims to launch a crypto wallet and digital depository by December following Russia’s expected Sept. 1 crypto law.
- The wallet will initially be available through the Sberbank Online and SberInvestments apps after regulatory approval.
- Sberbank is also considering offering access to foreign crypto exchanges under Russia’s proposed licensing framework.
Russia’s largest lender, Sberbank, plans to launch a cryptocurrency wallet and digital custody service by early December after the country’s new crypto law is expected to take effect on Sept. 1, according to RBC. The rollout will initially reach users through the Sber and SberInvestments apps, while the bank also weighs becoming an intermediary for trading on foreign crypto exchanges under the final regulatory framework.
Sberbank Prepares Crypto Services
According to RBC, Kirill Tsarev, First Deputy Chairman of Sber’s Management Board, said the bank will introduce a crypto wallet shortly after the legislation becomes effective. The wallet will first appear inside Sberbank Online and SberInvestments.
However, Tsarev said final launch dates depend on the publication of the completed legal framework. He also noted that updated Sber applications must become available through app stores. Meanwhile, Android users could receive the redesigned interface earlier.
Alongside the wallet, Sberbank plans to launch a digital depository. The platform will provide cryptocurrency storage and accounting services by Dec. 1.
Law Shapes Market Expansion
The planned launch follows proposed legislation regulating digital currency and digital rights. Previously, Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia, said the law is expected to take effect on Sept. 1.
The proposal establishes licensed companies that can provide custody, trading, digital-to-fiat exchange, and cross-border crypto settlement services.
Additionally, lawmakers proposed allowing Russians to trade through foreign cryptocurrency exchanges using licensed domestic intermediaries. Tsarev said Sberbank will consider offering that service after reviewing the final regulatory requirements.
Banks Prepare For New Framework
Other financial institutions also outlined crypto plans during the Bank of Russia Financial Congress. Moscow Exchange said it expects to introduce cryptocurrency operations before the end of 2026 after the legislation becomes effective.
Meanwhile, VTB and T-Bank Group announced plans to establish their own digital depositories once the law takes effect. According to the proposed framework, non-qualified investors will access domestic crypto trading after completing required testing and meeting investment limits.
Chistyukhin also said cryptocurrency transactions could begin in November 2026, while a transition period will continue until July 1, 2027. Criminal liability for regulatory violations is expected to begin from mid-2027.
