MV Capital - Sberbank Targets December Crypto Wallet Launch Amid Russia Regulation Shift

Sberbank plans to integrate a cryptocurrency wallet into its banking apps and prepare a digital asset depository by early December, following Russia's new digital asset law set for September

Sberbank Prepares Integrated Crypto Services

Russia’s largest bank, Sberbank, has outlined plans to add cryptocurrency wallet functionality to its Sberbank Online and SberInvestments applications. First Deputy Chairman Kirill Tsarev stated that the bank aims to make this available shortly after the new legislation takes effect, with full digital asset custody infrastructure targeted for December 1.

The move positions Sberbank, which holds about one-third of Russia’s banking assets and serves more than 100 million customers, to offer clients the ability to store approved digital assets directly within familiar banking platforms. Tsarev noted that the exact timing depends on the final publication of the law and app store availability of updates, with Android versions potentially rolling out ahead of iOS.

Key Details from Sberbank AnnouncementCrypto wallet integration in existing mobile apps
Digital depository for custody and accounting by December 1
Focus on secure storage of permitted tokens

New Digital Asset Law Framework

The developments align with Russia’s “On Digital Currency and Digital Rights” legislation, expected to enter force on September 1. Bank of Russia First Deputy Chairman Vladimir Chistyukhin confirmed this timeline. The law establishes a licensing system covering trading, custody, fiat conversions, and cross-border settlements.

Under the rules, non-qualified investors face annual trading limits of around 300,000 rubles. Companies must complete registration by July 1, 2027, during a transition period. The framework brings digital asset activities into a supervised environment managed by licensed entities.

Milestone	Timeline
Law takes effect	September 1
Target custody launch	December 1
Non-qualified investor limit	300,000 rubles annually
Registration deadline	July 1, 2027

Broader Market Context and Bank Preparations

Sberbank is also considering an intermediary role allowing access to foreign exchanges, subject to domestic rules and currency regulations, according to Tsarev. This fits a wider policy adjustment in Russia, moving from earlier restrictive positions toward structured participation in digital assets.

Other institutions are advancing similar efforts. VTB and T-Bank Group have indicated plans for their own digital asset depositories once the law activates. The Moscow Exchange intends to expand crypto-related operations by the end of 2026.

 “As regulations emerge, we will prepare a service for our clients. Essentially, it will be a crypto wallet, which we will implement first in Sberbank Online and SberInvestments.”
Kirill Tsarev, First Deputy Chairman of Sberbank

Policy Evolution in Russia

Russia’s approach has changed over time. Earlier proposals from the Central Bank in 2022 sought broad restrictions on crypto activities. Subsequent developments, including legalized mining and experimental cross-border uses, have supported a regulated market structure. Sberbank’s preparations reflect this transition, integrating digital assets into traditional banking channels.

The bank has previously engaged in digital asset issuances and continues to develop related capabilities within the evolving legal setup. These steps occur alongside the planned digital ruble rollout, also scheduled around September.