- Sberbank is developing a regulated crypto infrastructure with custody, wallet management and internal record-keeping features ahead of Russia’s new digital asset rules.
- The upcoming framework will introduce licensing requirements and oversight categories for crypto businesses under the supervision of the Bank of Russia.
- Only larger, more liquid cryptocurrencies are expected to qualify for regulated trading, while Sberbank has not revealed supported assets or fees.
Russia’s largest lender, Sberbank, is preparing to introduce a cryptocurrency trading and custody platform by 1 December as the country establishes its first comprehensive regulatory framework for digital assets.
At the centre of the system will be a digital depository that records customers’ crypto ownership on internal ledgers while settling most transactions outside the main blockchain. The bank will manage active wallets for customer deposits, withdrawals and transfers.
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Sberbank’s Crypto Custody Model
According to first deputy chairman Alexander Vedyakhin, the depository will maintain records of clients’ cryptocurrency rights, account for off-chain transactions and support transfers using active wallets.
Russia’s digital asset framework will take effect on 1 September 2026, with full licensing requirements for intermediaries beginning on 1 July 2027. The legislation creates five categories of regulated market participants, including exchanges, brokers, custodians, asset managers and exchange service providers, while giving the Bank of Russia broad supervisory powers.
Crypto assets offered through the regulated market must satisfy minimum liquidity requirements, including an average market capitalisation above 5 trillion roubles, equal to about US$64 billion (AU$92.8 billion), and average daily trading volumes exceeding 1 trillion roubles, or roughly US$12.8 billion (AU$18.56 billion), measured over two years.
Sberbank has yet to announce which cryptocurrencies will be supported or publish fee structures and eligibility requirements. The launch coincides with continued international sanctions targeting parts of Russia’s cryptocurrency ecosystem, including measures by the European Union and the United Kingdom against HTX.
Related: SEC Delays Decisions on Bitcoin, Ethereum, Solana, and XRP ETFs Until October
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