Sberbank will build cryptocurrency trading infrastructure and open a digital depository by Dec. 1, as Russia moves crypto trading, custody and settlement into its regulated financial system. The new framework takes effect Sept. 1, but the requirement to route transactions through licensed intermediaries only applies from July 2027.
Russia's largest bank plans to build cryptocurrency trading infrastructure and launch a digital depository by Dec. 1 as Russia moves to bring crypto trading, custody and settlement into its regulated financial system.
The depository, according to Interfax, will record clients' ownership of cryptocurrency and process most transactions outside the underlying blockchain. Sberbank will also operate active wallets for client-initiated deposits, withdrawals and transfers.
A new law routes crypto through licensed intermediaries
Sberbank's plan follows the Federation Council's approval of a law regulating cryptocurrency trading through licensed brokers, exchanges, asset managers and depositories. That framework is set to take effect Sept. 1, though rules requiring transactions to pass through licensed intermediaries will apply from July 2027.
Liquidity thresholds decide what the public can trade
Public exchange trading will be limited to cryptocurrencies that meet Bank of Russia liquidity thresholds. Those include an average market capitalization above 5 trillion rubles ($64 billion) and an average daily volume above 1 trillion rubles ($12.8 billion) over two years.
Qualified investors will be able to access a broader range of assets. But crypto payments for goods and services inside Russia remain prohibited.
Sberbank has already sold bitcoin-linked products
Sberbank started offering qualified investors structured bonds tied to bitcoin last year. The bank also completed a bitcoin-backed lending pilot with miner Intelion Data in December.
Russia has been gradually bringing crypto into its regulated financial system. A 2024 law legalized mining and created an experimental regime for crypto-based cross-border settlements. The Bank of Russia then widened access in 2025 by allowing qualified investors to buy crypto-linked financial products. It later proposed limited direct purchases for retail investors, subject to testing and an annual cap of 300,000 rubles per intermediary.
Source: CoinDesk
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