Russia’s Largest Bank Sberbank Plans Crypto Wallet Launch by December

Sberbank, Russia’s largest bank, plans to launch a crypto wallet and digital custody service by December 2026, according to a report by Russian business daily RBC. The services will be integrated into the bank’s existing Sberbank Online and SberInvestments applications, pending the country’s new cryptocurrency law that takes effect on September 1.

Kirill Tsarev, First Deputy Chairman of Sberbank’s Management Board, confirmed that the bank is developing the technology as regulatory clarity improves. The final launch date will depend on the government’s finalized rules following the law’s enactment.

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What Sberbank’s Crypto Wallet Will Offer

Customers will be able to store and manage approved cryptocurrencies directly within Sberbank’s digital platform, eliminating the need for a separate third-party wallet. The bank is also building a digital custody platform designed to securely hold customers’ digital assets and maintain transaction records.

Tsarev indicated that Sberbank is considering an additional service: acting as an intermediary for Russians using foreign cryptocurrency exchanges. The final decision will depend on the regulations and overseas exchange policies.

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Russia’s New Crypto Law: Key Details

Vladimir Chistyukhin, First Deputy Chairman of the Bank of Russia, confirmed the new law will take effect on September 1, 2026. The legislation establishes rules for crypto trading, custody, fiat exchange, and cross-border payments, enabling banks to offer regulated crypto services.

The law includes provisions for retail investors. Non-qualified investors could face an annual trading limit of 300,000 rubles (approximately $3,800) and may be required to pass testing before accessing certain crypto products. Crypto market operators must register with the official state registry by July 1, 2027.

Broader Banking Sector Moves

Sberbank is not alone in preparing for the regulated crypto market. VTB and T-Bank have announced plans to introduce their own digital custody services after the law takes effect. The Moscow Exchange (Mosbirzha) also intends to launch cryptocurrency trading before the end of 2026, subject to regulatory approval.

Russia’s approach to digital assets has shifted significantly. The country previously pursued a policy of banning cryptocurrencies but is now building a regulated framework in response to growing interest in blockchain technology and digital finance.

If the law proceeds as planned, millions of Sberbank customers could soon access crypto services through their banking apps, marking a notable step in regulated digital asset adoption within Russia’s traditional banking sector.

Written by

Zoi Dimitriou

Zoi Dimitriou is a cryptocurrency analyst and senior writer at CryptoNewsInsights, specializing in DeFi protocol analysis, Ethereum ecosystem developments, and cross-chain bridge security. With seven years of experience in blockchain journalism and a background in applied mathematics, Zoi combines technical depth with accessible writing to help readers understand complex decentralized finance concepts. She covers yield farming strategies, liquidity pool dynamics, governance token economics, and smart contract audit findings with a focus on risk assessment and investor education.