Russia’s largest bank Sberbank plans to launch a crypto wallet and digital custody service by December after the country’s new crypto law takes effect.
Russia’s largest bank, Sberbank, plans to launch a crypto wallet by December 2026. According to RBC, the service will also include a digital custody platform. Both services will be available in the Sberbank Online and SberInvestments apps. But the launch is subject to Russia’s new crypto law, which is set to come into effect on September 1.
Sberbank Prepares Crypto Wallet Under New Russian Rules
Sberbank is developing the technology for the new service. Therefore, customers will be able to store and manage approved cryptocurrencies inside the bank’s apps. They will not require a separate crypto wallet. Instead, everything will work within Sberbank’s existing digital platform.
🇷🇺RUSSIA’S LARGEST BANK TO ALLOW CRYPTO TRADING SOON
Sberbank says it plans to add authorized crypto transactions after Russia’s new crypto law takes effect on September 1.
The bank expects to build crypto trading infrastructure and launch a crypto wallet by December 1.… https://t.co/9oIUtDSMtM pic.twitter.com/gONITaYUTc
— Coin Bureau (@coinbureau) July 6, 2026
The bank is working on the service as the regulations become clearer, said Kirill Tsarev, First Deputy Chairman of Sberbank’s Management Board. The crypto wallet will be first presented in the Sberbank Online and SberInvestments applications, he explained. But the final launch date will be subject to the government’s final rules.
Related Reading: Russia Confirms Digital Ruble September Launch.
The bank is also working on a digital custody platform. This system will securely hold digital assets of customers. In addition, it will keep records of cryptocurrency holdings. Consequently, users will be given a safe and controlled environment in which to handle their crypto assets.
The new crypto law will take effect on September 1, 2026, according to Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia. The law will establish regulations for crypto trading, crypto custody, fiat exchange, and cross-border payments. As such, banks will be able to provide regulated crypto services once the law comes into effect.
In addition, Tsarev stated that Sberbank is mulling over another service. The bank could become an intermediary for Russians who are using foreign cryptocurrency exchanges. The final determination will be based on the final regulations and overseas exchange policies, however.
Russia’s Banking Sector Expands Digital Asset Services
The proposed law also includes rules for retail investors. Non-qualified investors could be limited to 300,000 rubles (approximately $3,800) in crypto trading per year. Furthermore, they are required to undergo testing before using certain crypto products.
The legislation also requires crypto market operators to register with the official state registry by July 1, 2027. As a result, businesses must comply with licensing and regulatory requirements before providing regulated crypto services in Russia.
Other banks are also developing similar products in the meantime. VTB and T-Bank have announced their intention to introduce their own digital custody services after the law comes into effect. Similarly, the Moscow Exchange (Mosbirzha) intends to launch cryptocurrency trading before the end of 2026, if approved by the regulator.
The Russian attitude towards cryptocurrencies has evolved over the years. The country had previously had a policy of banning digital assets. However, the government is now creating a regulated framework for crypto services. This shift comes as a result of the increasing interest in blockchain technology and digital finance.
Overall, Sberbank’s crypto wallet will mark an important step for Russia’s banking industry. If the law takes effect as planned, millions of customers could soon access crypto services through their banking apps. Furthermore, the project demonstrates how traditional banks are getting ready for the next step in regulated digital asset adoption in Russia.
Leave a Reply
You must be logged in to post a comment.