Russia's largest bank Sberbank plans to launch a crypto wallet and custody service by December following new crypto law implementation.
Regulation & Gov ·
Sberbank plans to launch a crypto wallet and digital custody service within its Sber and SberInvestments apps by early December, according to reporting, following Russia's expected implementation of new crypto legislation on September 1. The move positions the bank to serve domestic demand for digital asset storage and management as the regulatory environment clarifies.
The wallet and custody offerings depend on finalization of the new crypto law framework. Sberbank is also evaluating whether to serve as an intermediary connecting Russian traders to foreign crypto exchanges, though this role remains contingent on how regulators ultimately structure market access rules.
The timeline and scope of these services—particularly the intermediary function—remain subject to regulatory decisions yet to be published. No details have been disclosed about fees, asset coverage, or technical specifications for the custody offering.