CoinDesk
Sberbank, Russia's largest bank, plans to roll out cryptocurrency trading infrastructure and a digital depository by Dec. 1, becoming the flagship incumbent participant in the country's new framework for regulated crypto trading, custody and settlement. The depository, per Interfax, will record client ownership and process most transactions off the underlying blockchain, while Sberbank operates active wallets for deposits, withdrawals and transfers.
The plan follows Federation Council approval of a law that channels crypto trading through licensed brokers, exchanges, asset managers and depositories. The framework takes effect Sept. 1, with mandatory use of licensed intermediaries applying from July 2027.
Why it matters
Sberbank's build-out is the first major incumbent commitment to the new rails. The bank already launched structured bonds tied to bitcoin for qualified investors last year and ran a bitcoin-backed lending pilot with miner Intelion Data in December. Putting crypto trading and custody inside the country's largest retail deposit base is a structural legitimization step, not a pilot.
Public exchange trading under the framework is restricted to assets clearing Bank of Russia liquidity thresholds: an average market capitalization above 5 trillion rubles ($64B) and average daily volume above 1 trillion rubles ($12.8B) over two years. Crypto payments for goods and services inside Russia remain prohibited, and qualified investors retain access to a broader asset range.
Market impact
The thresholds map closely onto $BTC and $ETH scale and shut most altcoins out of the public venue, which is bullish for liquidity concentration in the top two assets and bearish for tokens reliant on Russian retail flow. A second tailwind: the Bank of Russia has widened qualified-investor access to crypto-linked products in 2025 and proposed limited direct retail purchases, capped at 300,000 rubles per intermediary. Sberbank's December launch is the first concrete delivery against that roadmap.
Frequently asked questions
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What is Sberbank launching for crypto by Dec. 1?
Sberbank plans to roll out crypto trading infrastructure plus a digital depository that records client ownership and processes most transactions off the underlying blockchain, with active wallets for deposits, withdrawals and transfers.
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When does Russia's new crypto trading framework take effect?
The law takes effect Sept. 1, covering crypto trading, custody and settlement through licensed brokers, exchanges, asset managers and depositories. Rules requiring transactions to pass through licensed intermediaries apply from July 2027.
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Which cryptocurrencies can Russians trade under the new rules?
Public exchange trading is limited to assets clearing Bank of Russia liquidity thresholds: an average market capitalization above 5 trillion rubles ($64B) and average daily volume above 1 trillion rubles ($12.8B) over two years. Qualified investors can access a broader range.
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Can Russians pay for goods and services with crypto?
No. Crypto payments for goods and services inside Russia remain prohibited under the new framework, even as trading and custody rails are being formalized.
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Has Sberbank offered crypto products before this plan?
Yes. Sberbank began offering structured bonds tied to bitcoin to qualified investors last year and completed a bitcoin-backed lending pilot with miner Intelion Data in December.
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