Russia's Sberbank to Launch Crypto Wallet Service by Year-End

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Sberbank of Russia will launch a crypto wallet and digital asset custody service by December 2026, following the September 1 enactment of the Digital Assets Law. The service will be accessible via Sberbank Online and SberInvestments. The new regulations introduce a licensing system for crypto trading, custody, and cross-border settlements, with an annual limit of 300,000 rubles ($3,800) for retail users. Compliance with anti-money laundering (AML) regulations will be a key priority. Liquidity and cryptocurrency markets in Russia are expected to accelerate as VTB and T-Bank also prepare to offer custody services.

BlockBeats report: On July 6, Russia’s largest bank, Sberbank, plans to launch a cryptocurrency wallet and digital asset custody service as early as December this year, following the September 1 effective date of the new digital assets law, “On Digital Financial Assets and Digital Rights,” integrating these services into its Sberbank Online and SberInvestments platforms.

Under the new regulations, Russia will establish a licensing system for cryptocurrency trading, custody, fiat currency exchange, and cross-border settlements, with an annual trading limit of approximately 300,000 rubles (about $3,800) for retail investors. Additionally, major Russian banks such as VTB and T-Bank are preparing to launch digital asset custody services.

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