Russia’s largest lender, Sberbank, is preparing to launch its own cryptocurrency trading infrastructure as the country moves closer to bringing digital assets under a formal regulatory framework.
The Russian news agency Interfax reported that the bank hopes to have the new infrastructure in place by December 1. The project will have a digital depository for recording crypto ownership as well as active crypto wallets for customers to deposit, withdraw and transfer digital assets.
Unlike public blockchains, much of the record-keeping and transaction processing will be done on the bank’s own infrastructure.A digital depository that will register clients’ rights to cryptocurrencies and register transactions outside the main blockchain will be among the key elements of the new infrastructure’, Alexander Vedyakhin, first deputy chairman of Sberbank’s management board, said.
The system will also support live wallets, which will enable customers to make cryptocurrency transfers and other transactions directly through the bank, he added.
Russia’s crypto bill paves the way for regulated trading
The announcement comes after Russia’s parliament wrapped up work on a landmark bill to establish the first comprehensive framework for trading and custody of cryptocurrency in the country.
Earlier this month legislators passed the final readings of laws detailing how digital assets will be regulated and who will be allowed to offer crypto-related services when the rules are implemented.
The framework proposed gives the Bank of Russia wide powers to regulate the market, including the right to specify which cryptocurrencies can be sold through licensed financial institutions and to provide the rules needed to implement the new system.
It also lays down strict eligibility criteria for cryptocurrencies traded through regulated intermediaries. Qualifying assets under the proposal would have to meet minimum liquidity thresholds, including an average market capitalisation of more than 5 trillion rubles (around $64 billion) and average daily trading volumes of more than 1 trillion rubles over a two-year period.
The law also outlines five types of licensed participants, including crypto exchanges, brokers, custodians, asset managers and exchange service providers, giving a clearer framework for how digital assets can be bought, sold and held in Russia.
Timeline for new rules
The new rules are expected to go into effect Sept. 1, 2026. The plans of Sberbank suggest the country’s largest financial institutions are already preparing for the shift.
Instead of leaving crypto trading to specialist exchanges, Russia appears to be developing a system where established banks play a central role in providing custody, settlement and trading services under regulatory oversight.
The move is part of a wider trend in global finance as clearer regulations emerge and traditional banks become more involved in digital assets. While the practices vary from country to country, many financial institutions are ramping up their investments into crypto infrastructure to cater to the growing demands from institutional and retail clients.
For Sberbank, creating a regulated crypto platform is yet another step in breaking away from traditional banking. As the digital asset infrastructure in Russia approaches reality, the bank is positioning itself as one of the country’s leading providers of regulated crypto services.
