Sberbank to Launch Crypto Trading Infrastructure by December Under New Russian Regulations
Key Takeaways
- •Sberbank is preparing crypto trading infrastructure and a digital depository targeted for launch by Dec. 1.
- •The approved Russian crypto framework will take effect Sept. 1, with mandatory use of licensed intermediaries beginning in July 2027.
- •Public exchange trading will be limited to cryptocurrencies meeting Bank of Russia market capitalization and trading volume thresholds.
- •Qualified investors will be able to access a wider range of digital assets than the general public.
- •Russia still prohibits the use of cryptocurrency to pay for goods and services within the country.
Sberbank, Russia's largest bank, is preparing 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.
According to Interfax, the depository will record clients' ownership of cryptocurrency and process most transactions off the underlying blockchain. Sberbank will operate active wallets enabling client-initiated deposits, withdrawals, and transfers.
The plan follows the Federation Council's approval of a law regulating cryptocurrency trading through licensed brokers, exchanges, asset managers, and depositories. The framework is set to take effect Sept. 1, though rules requiring transactions to pass through licensed intermediaries will apply from July 2027.
Public exchange trading will be limited to cryptocurrencies meeting Bank of Russia liquidity thresholds. These include an average market capitalization above 5 trillion rubles ($64 billion) and an average daily trading volume exceeding 1 trillion rubles ($12.8 billion), each measured over a two-year period. Based on current market data, only a handful of the largest digital assets would meet both requirements. Qualified investors will have access to a broader range of digital assets. Crypto payments for goods and services inside Russia remain prohibited.
Sberbank began offering qualified investors structured bonds tied to bitcoin last year and completed a bitcoin-backed lending pilot with mining firm Intelion Data in December.
Russia has been gradually integrating cryptocurrency into its regulated financial system. A 2024 law legalized crypto mining and established an experimental regime for crypto-based cross-border settlements, which Russian officials have discussed as a tool for businesses facing disruptions in conventional banking channels. The Bank of Russia broadened access in 2025 by permitting qualified investors to purchase crypto-linked financial products, and later proposed limited direct crypto purchases for retail investors, subject to testing and an annual cap of 300,000 rubles per intermediary.
