Sberbank, Russia’s largest bank, intends to introduce cryptocurrency trading infrastructure together with a digital depository by December 1, 2026. The move aligns with the country’s emerging regulatory framework that will bring crypto trading, custody and settlement under formal oversight.

The planned system will enable regulated trading, custody and settlement services for eligible customers. A core component is the digital depository, which will record clients’ cryptocurrency ownership rights and handle many transactions outside public blockchain networks. The bank will also operate active wallets to process deposits, withdrawals and transfers.

Regulatory Framework Moves Forward

The initiative follows parliamentary progress on the bill titled On Digital Currency and Digital Rights. The State Duma approved the measure on July 21. It still requires Federation Council approval and the signature of President Vladimir Putin before becoming law.

Once enacted, the main provisions are scheduled to take effect on September 1, 2026. Market participants will have until July 1, 2027, to obtain necessary licenses and bring their systems into compliance. The Bank of Russia will supervise licensed exchanges, brokers, custodians and digital depositories, maintaining official registers of authorized operators.

Only firms listed on the official register will be permitted to provide crypto exchange services. Existing participants receive a transitional period to complete the licensing process while continuing limited operations.

Investor Access and Restrictions

Under the forthcoming rules, both qualified and non-qualified investors may purchase cryptocurrencies through regulated intermediaries, subject to different conditions. Non-qualified investors must pass a knowledge test and face an annual purchase limit of 300,000 rubles through a single intermediary. Qualified investors complete testing as well but face no annual limit and gain access to a broader range of assets.

Public trading will be restricted to cryptocurrencies that meet liquidity and market-size thresholds set by the central bank. These include an average market capitalization above 5 trillion rubles and average daily trading volume above 1 trillion rubles over a two-year period.

Cryptocurrency payments for goods and services within Russia remain prohibited. Narrow exceptions apply to approved cross-border settlements, certain mining-related payments and transactions linked to securities or other digital assets. Residents may also face reporting obligations for some foreign crypto holdings.

Sberbank’s Prior Digital Asset Activity

Sberbank has already built experience in Russia’s regulated digital financial asset market. The bank joined the register of information system operators in 2022 and has issued structured products and digital financial assets linked to bitcoin, ethereum and cryptocurrency baskets for qualified investors.

In December 2025 the bank completed a pilot crypto-backed loan with bitcoin miner Intelion Data, testing the use of digital assets as collateral and related risk and record-keeping procedures. Sberbank has also explored custody solutions and submitted proposals to the central bank on storing Russian customers’ crypto assets through regulated banking channels.

Other major Russian financial institutions, including VTB, T-Bank, Alfa-Bank and the Moscow Exchange, are developing complementary digital depository and trading capabilities in preparation for the new regime. The December 1 target positions Sberbank to offer services during the regulatory transition window, though final details on supported assets, fees and eligibility criteria remain subject to additional bylaws still under development.

Vedyakhin noted that substantial secondary regulations covering depository systems, accounting standards and intermediary licensing still need to be adopted. Sberbank has indicated readiness to contribute expertise to that process.