Sberbank to launch a crypto wallet by December under Russia's new licensed crypto market framework, with retail transaction limits of $3,800 annually.
Regulation & Gov ·
Sberbank, Russia's largest bank, plans to launch a crypto wallet and digital custody service through its Sber and SberInvestments apps by early December, according to reporting timed to the expected implementation of Russia's new crypto law on September 1. The bank is also exploring a role as an intermediary for Russians trading on foreign crypto exchanges, contingent on how final regulatory rules take shape.
The move reflects a broader shift toward legitimizing crypto activity in Russia. The timing aligns with the country's new regulatory framework, which will establish formal rules for digital asset handling within the banking system. Sberbank's planned services—wallet functionality and custody—represent infrastructure moves that would position the bank to serve retail and institutional demand once the law takes effect.
Key open questions remain around the specific terms of the intermediary arrangement and how comprehensively the September 1 rules will address cross-border exchange access. The bank has signaled conditional interest in that role, suggesting regulatory clarity is still being finalized.