Sberbank to Launch Crypto Trading Infrastructure by December Amid New Regulations

Sberbank, Russia's largest banking institution, is set to launch a cryptocurrency trading infrastructure and digital asset custody service for its clients by December of this year. This strategic move comes as Russia's State Duma recently passed a comprehensive law establishing a legal framework for the digital asset market.

The Russian State Duma adopted its first comprehensive law regulating the circulation of digital assets on July 21-22, 2026. Key provisions of this legislation are slated to take effect on September 1, 2026, outlining rules for crypto exchanges, digital depositories, brokers, and management companies. A transition period for licensed intermediaries to achieve full compliance and registration requirements will extend until July 1, 2027.

Kirill Tsarev, First Deputy Chairman of Sberbank's Management Board, stated that the bank intends to integrate a crypto wallet into its existing Sberbank Online and SberInvestments mobile applications. This integration will enable over 110 million customers to hold and manage digital assets directly through the bank's platforms. Sberbank is also considering acting as an intermediary to facilitate Russian citizens' trading on foreign cryptocurrency exchanges, subject to the final regulatory framework.

The new regulations maintain the prohibition on using cryptocurrencies for domestic payments within Russia but explicitly permit their use for cross-border trade settlements. This provision is particularly significant given international sanctions have limited Russia's access to traditional financial channels, positioning crypto as an alternative payment mechanism. Retail investors will face an annual purchase limit of 300,000 rubles (approximately $3,800) per licensed intermediary, after passing a required test, while qualified investors will not have such limitations.

The Central Bank of Russia will be responsible for overseeing the crypto market under the new legal framework, managing licensing and compliance for market participants. Alongside Sberbank, other major Russian financial institutions such as VTB, T-Bank, and Moscow Exchange are also preparing to launch similar digital asset services. These developments underscore Russia's adoption of digital assets as a strategic investment tool and an alternative channel for international trade.

Analysts suggest these regulations will move Russia's cryptocurrency market out of a grey area and integrate it into the official financial system, fostering institutional adoption. The coming period is expected to see increased trading volumes through licensed platforms and a more transparent market structure. However, the continued ban on domestic payments will remain an obstacle to the widespread daily use of cryptocurrencies by the general public. With market participants expected to achieve full compliance by mid-2027, Russia's digital asset ecosystem is poised for further development.