Sberbank, Russia’s largest bank, plans to launch cryptocurrency trading infrastructure by December 2026, ahead of new domestic rules covering crypto trading, custody, and settlement that are scheduled to take effect on September 1, 2026.

The plan comes as Russia moves to formalize parts of its digital asset market while the European Union prepares further sanctions related to the ongoing war in Ukraine.

Sberbank Targets December Launch for Crypto Infrastructure

Sberbank intends to build and launch key cryptocurrency trading infrastructure, including a digital depository, by December 1, 2026. The bank is at the center of Moscow’s efforts to bring cryptocurrency trading, custody, and settlement into the regulated financial system.

The announcement follows Russia’s approval of new rules for cryptocurrency exchanges, brokers, banks, and digital depositories. Those regulations are due to enter into force on September 1, 2026, with companies also expected to receive additional time to meet the new compliance requirements.

“Russia’s Largest Bank Sberbank Plans Crypto Trading Infrastructure: Sberbank, Russia’s largest bank, plans to build cryptocurrency trading infrastructure and launch a digital custody system by Dec. 1 to support regulated crypto trading, custody and settlement.” – Wu Blockchain

Sberbank’s proposed digital depository will keep records of cryptocurrency ownership and process transactions outside the primary blockchain. The bank also plans to operate wallets for client deposits, withdrawals, and transfers. In practice, that would place parts of crypto account administration inside a bank-run system, while the underlying assets remain connected to blockchain networks.

Alexander Vedyakhin, first deputy chairman of Sberbank’s management board, said:

“One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain. It will also facilitate transactions on active wallets to fulfill clients’ currency transfer orders.”

Sberbank has not yet disclosed which users will be eligible for the service, what fees will apply, whether withdrawal limits will be imposed, or which cryptocurrencies will be supported under the framework.

Sberbank Expands Its Digital Asset Services

Sberbank was added to Russia’s register of information system operators in 2022. Since then, it has issued several digital financial assets and products linked to Bitcoin (BTC), Ethereum (ETH), and other assets.

The bank had already been working on a digital asset depository and a cryptocurrency wallet. Depending on applicable regulatory requirements, the infrastructure could also give customers access to foreign cryptocurrency exchanges.

Sberbank has also tested cryptocurrency-backed lending. The bank completed a pilot loan with Bitcoin miner Intellion Data, and reports have said it has considered offering similar lending products to corporate clients.

Russia Advances Crypto Market Rules

Russian lawmakers have completed a final reading of a bill to regulate cryptocurrencies in the country. The legislation gives the Bank of Russia oversight of the cryptocurrency market, including the power to determine which cryptocurrencies may be offered through licensed intermediaries.

The bill also categorizes market participants and sets out which entities may buy, sell, hold, and exchange crypto assets once the framework takes effect. The approach would move permitted crypto activity toward licensed financial intermediaries and digital depositories, rather than leaving access to be handled only through unregulated channels.

For cryptocurrencies offered under the framework, the Bank of Russia has set requirements of an average market capitalization above 5 trillion rubles, or approximately $64 billion, and an average 24-hour trading volume of 1 trillion rubles, or approximately $12.8 billion, over a two-year period.

Moscow’s push for a regulated cryptocurrency framework comes as the EU has imposed another tranche of sanctions. The EU also listed the HTX cryptocurrency exchange in sanctions for “providing crypto asset services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions against Russia.”

EU officials have also barred Belarusian nationals and residents from owning, controlling, or managing cryptocurrency exchanges in line with the Markets in Crypto Assets (MiCA) framework.

According to the Bank of Russia, the new framework permits investors to purchase crypto assets through regulated intermediaries. Qualified and non-qualified investors, however, will be subject to different restrictions.

Both qualified and non-qualified investors must pass a test to become eligible to buy crypto assets. Qualified investors may access a broader range of cryptocurrencies and will not be subject to an annual investment limit. Non-qualified investors will have access to a more limited set of digital assets and may purchase only 300,000 rubles worth of crypto per year through a single intermediary.

Russian Financial Firms Prepare for the New Framework

Other Russian financial institutions are also preparing for the incoming regulatory regime. VTB and T-Bank are developing their own digital depository services, while the Moscow Exchange is considering offering regulated crypto operations.

Alfa Bank has also tested custody tools and cryptocurrency services, indicating that major participants in Russia’s financial sector are positioning themselves ahead of the licensing deadline. The next details to watch are the Bank of Russia’s final implementation requirements and the specific asset, client eligibility, and custody rules that licensed firms will need to follow.