Sberbank, Russia’s largest bank, wants to do it to initiate cryptocurrency wallet and digital repository once the country’s crypto laws go into effect, a step that would put the state-controlled lender at the center of Russia’s digital financial market.
Kirill Tsarev, Deputy Chairman of Sberbank’s Management Board, announced the plan at RBC Investments at the Bank of Russia Financial Congress. He also said that the bank will provide legal access to cryptocurrency in the Sber and SberInvestments programs after the lawmakers approve the money. “On Digital Currency and Digital Freedom.”
Vladimir Chistyukhin, Deputy Chairman of the Central Bank, said that the law governing the crypto market in Russia is expected to come into effect on September 1. Tsarev said that Sberbank plans to launch a crypto wallet within a few months of that date. The bank aims to build a cryptocurrency trading platform and set up a digital repository to store and account for cryptocurrencies by December 1.
“As the regulations appear, we will prepare a service for our customers. Basically, it will be a crypto wallet, which we will use first for Sberbank Online and SberInvestments,” said Tsarev.
He also said that the deadlines will depend on the final wording of the law and the availability of updated Sber programs in online stores. Tsarev did not say that Android users will receive the new feature before others.
The proposed reform will allow Russians to trade abroad through intermediaries. Tsarev said Sberbank would consider becoming such an intermediary, although the decision would depend on Russian and foreign laws.
Russian banks are embracing crypto
Sberbank is He expressed his readiness to enter the crypto market when the world goes to the law.
It’s not just a bank. Moscow Exchange announced plans to use cryptocurrency by the end of 2026, according to the representative of the group Igor Marich.
VTB and T-Bank Group announced plans to create their own digital crypto depositories once the law comes into effect. Russia is measuring the ease of licensing crypto exchange and banking.
The plan, developed by the Ministry of Finance and the Bank of Russia, will establish companies with licenses to keep financial records, organize crypto transactions, digital exchanges, and operate. across crypto borders on behalf of customers.
Russians will get the right to sell crypto on local exchanges after testing and within the limits given to non-qualified ones, a move that opens up access to Bitcoin for retail investors.
Chistyukhin said that crypto transactions under the new rules can begin in November 2026. The transition period will last until July 1, 2027, and the prosecution of violations will begin in the middle of 2027.
