Sberbank to Launch Crypto Trading Infrastructure by December 1

Russia's largest bank, Sberbank, aims to launch a comprehensive cryptocurrency trading infrastructure and digital depository by December 1, 2026, as part of the country's broader efforts to integrate the digital asset market into its regulated financial system. This strategic move aligns with new cryptocurrency regulations set to take effect in the Russian Federation.

Sberbank's planned digital depository will maintain records of clients' cryptocurrency ownership and process most transactions through its internal accounting system rather than directly recording every transfer on a public blockchain. The bank will also operate active wallets that support client deposits, withdrawals, and transfers. According to Alexander Vedyakhin, First Deputy Chairman of Sberbank's Management Board, the bank intends to complete the necessary infrastructure by December 1, 2026. This structure aims to facilitate the supervision of cryptocurrency services by resembling a traditional securities custody model. Sberbank's initiative follows the Federation Council's approval of legislation regulating cryptocurrency trading through licensed brokers, exchanges, asset managers, and depositories. While this legal framework is scheduled to take effect on September 1, 2026, the requirement for transactions to be routed through licensed intermediaries will not become mandatory until July 2027. This timeline provides banks, trading platforms, and regulators with time to establish the necessary systems.

This development could accelerate the integration of cryptocurrency into Russia's financial system and facilitate access for institutional investors. The new system aims to reduce reliance on foreign cryptocurrency exchanges, particularly by offering ruble settlement and access to bank financing. Liquidity thresholds established by the Bank of Russia will limit the cryptocurrencies eligible for public exchange trading. These thresholds require an average market capitalization above 5 trillion rubles (approximately $64 billion) and an average daily trading volume above 1 trillion rubles (approximately $12.8 billion) over a two-year period, potentially concentrating trading in the largest and most liquid cryptocurrencies. While domestic payments for goods and services with cryptocurrencies remain prohibited, digital assets will be allowed for approved cross-border trade operations.

Russia has gradually expanded its regulatory approach to cryptocurrencies. A law passed in 2024 legalized cryptocurrency mining and established an experimental framework for crypto-based cross-border settlements. In 2025, the Bank of Russia further widened access by allowing qualified investors to purchase crypto-linked financial products. Proposals also suggested permitting limited direct purchases by retail investors who pass a knowledge test. These regulatory changes create an opportunity for Sberbank to bring activities that previously occurred through offshore exchanges or informal channels into its own financial network. In the context of ongoing international sanctions, Russia's efforts to utilize digital assets in foreign trade are also seen as part of the country's strategy to enhance its financial independence.

This new infrastructure will allow Sberbank to move beyond products that merely track cryptocurrency prices, such as the Bitcoin-linked structured bonds it already offers to qualified investors and the Bitcoin-backed lending pilot program it completed in December 2025. The platform could support direct asset ownership, collateralized lending, institutional settlement, and other services linked to digital assets. Sberbank's entry into the market could accelerate institutional adoption by providing investors access through a bank already integrated into Russia's payment and financial infrastructure. This may also encourage other licensed banks and brokers to develop competing services before intermediary requirements become mandatory in 2027.