What to know:
- Sberbank plans crypto wallet rollout after Russia’s digital asset law starts Sept. 1.
- Sberbank’s digital asset depository infrastructure is expected to be ready by Dec. 1.
- VTB, T-Bank, and Moscow Exchange are also preparing crypto-related services in Russia.
Russia’s biggest bank, Sberbank, is preparing to introduce a crypto wallet and digital asset depository once the new digital asset regulations come into force on Sept. 1. The Sberbank crypto wallet will be added to its mobile apps. The depository is expected by Dec. 1.
Local outlet RBC reported that Sberbank is preparing the wallet rollout soon after the law becomes active. First Deputy Chairman Kirill Tsarev said the schedule depends on the final version of the legislation. It also depends on updated app availability through online stores.
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Sberbank Crypto Wallet Rollout Tied to Legal Approval
According to Tsarev, Android users might receive the updated interface earlier than iPhone users. The timing could vary because app updates move through different store approval processes. The launch of the Sberbank crypto wallet will be performed following those procedures and legislation.
Sberbank is Russia’s leading bank with one-third of banking assets in the country. The Russian government has the majority stake in the bank. The launching of Sberbank crypto wallet services means placing one of the most significant state-owned banks in Russia’s regulated cryptocurrency sector.
Moreover, Sberbank considers participating in transactions with crypto currencies on foreign exchanges. According to Tsarev, this initiative will depend on the adoption of proposed changes in legislation. It will also depend on regulations in the field in Russia and foreign countries.
The development of the Sberbank crypto wallet is part of the wider digital assets initiatives by the bank. The Deputy Chairman of Sberbank, Anatoly Popov, said in December that the bank was crypto-backed lending. He said the lender was working with regulators on legal and technical systems for such products.
Russian Banks Prepare Digital Asset Depositories
Popov has added that Sberbank issued more than 160 digital asset issuances on the bank’s platform in early 2025. It has conducted an analysis of decentralized finance mechanisms and asset tokenization. These efforts remain tied to Russia’s regulated financial system.
The new law is expected to be applied to crypto custody, trading, and cross-border settlements. The framework will go into effect on Sept. 1 according to the statement of the Central Bank First Deputy Chairman Vladimir Chistyukhin. The Sberbank crypto wallet would move forward under that licensing structure.
In addition, other financial institutions of Russia are preparing to launch crypto-asset services. According to RBC, VTB and T-Bank Group are going to create digital asset depositories following the passing of the new law. The Moscow Exchange is also planning to start cryptocurrency operations by the end of 2026.
As reported earlier, Elvira Nabiullina, the Bank of Russia Governor, has said that the central bank is still working on launching the digital ruble on Sept. 1. Major banks are expected to offer digital ruble services through their apps from the same date.
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