Sberbank, Russia’s largest bank, intends to do just that He releases A cryptocurrency wallet and digital repository once the country’s cryptocurrency legislation takes effect, a move that would put the state-controlled lender at the center of Russia’s emerging digital assets market.
Kirill Tsarev, First Deputy Chairman of the Board of Directors of Sberbank, announced the plan of RBC Investments at the financial conference of the Bank of Russia. He said the bank will introduce authorized cryptocurrency transactions in the Sber and SberInvestments apps after lawmakers adopt the bill. “On Digital Currency and Digital Rights.”
Vladimir Chistyukhin, First Deputy Chairman of the Central Bank, said that the law regulating the Russian cryptocurrency market is expected to enter into force on September 1. Sberbank plans to launch a cryptocurrency wallet within a few months from that date, Tsarev said. The bank aims to build cryptocurrency trading infrastructure and launch a digital warehouse for storing and accounting for cryptocurrencies by December 1.
“With the advent of regulations, we will prepare a service for our clients. It will basically be a cryptocurrency wallet, which we will first implement in Sberbank Online and SberInvestments,” Tsarev said.
He added that the specific deadlines will depend on the final text of the law and on the availability of updated Sber applications in online stores. Tsarev did not rule out that Android users will get the new interface before others.
The proposed amendment to the bill would allow Russians to trade on foreign stock exchanges through local brokers. Tsarev said Sberbank would consider becoming an intermediary, although the decision would depend on regulatory requirements in Russia and abroad.
Russian banks are embracing cryptocurrencies
At Sberbank She indicated her willingness to get into cryptocurrency trading As the country moves towards regulation.
The bank is not alone. The Moscow Stock Exchange announced a planned launch of cryptocurrency operations by the end of 2026, according to group representative Igor Marich.
VTB and T-Bank Group announced plans to create their own digital warehouses for cryptocurrencies once the law comes into force. Russia is Weight of the simplified licensing path For cryptocurrency exchanges operated by banks.
The framework, developed by the Ministry of Finance and the Bank of Russia, would create licensed companies to keep registers of digital assets, regulate cryptocurrency trading, conduct digital exchanges to fiat currencies, and handle… Cross-border cryptographic settlements On behalf of clients.
Russians will get the right to trade cryptocurrencies on local exchanges after testing and within limits set for non-qualified investors, a move Opens access to Bitcoin for retail investors.
Cryptocurrency transactions under the new rules could start in November 2026, Chistyukhin said. The transitional period will last until July 1, 2027, and criminal liability for violations will enter into force in mid-2027.
