Sberbank to Launch Cryptocurrency Trading Infrastructure by December 1 Amidst Russia’s Regulatory Shift

Sberbank to Launch Cryptocurrency Trading Infrastructure by December 1

In a significant move for Russia’s financial landscape, Sberbank, the nation’s largest bank, has announced plans to establish a comprehensive cryptocurrency trading infrastructure, including a digital depository, by December 1. This initiative comes as Russia seeks to integrate cryptocurrency trading, custody, and settlement into its regulated financial system.

According to reports from Interfax, the digital depository will play a crucial role in recording cryptocurrency ownership and facilitating transactions outside the main blockchain. Alexander Vedyakhin, Sberbank’s first deputy chairman, emphasized the importance of this infrastructure, stating, “One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain.” He added that Sberbank will provide active wallets for clients to manage deposits, withdrawals, and transfers seamlessly.

This announcement aligns with recent legislative developments in Russia, where lawmakers have advanced a bill aimed at creating a comprehensive regulatory framework for the cryptocurrency market. The bill, which has passed its final readings, grants the Bank of Russia extensive oversight over the regulated market. This includes the authority to determine which crypto assets can be offered through licensed intermediaries and to issue necessary regulations.

The central bank has set specific liquidity thresholds for crypto assets, requiring an average market capitalization exceeding 5 trillion rubles (approximately $64 billion) and an average daily trading volume of over 1 trillion rubles (around $12.8 billion) over a two-year period.

Once implemented, the new framework will categorize market participants into five distinct groups: crypto exchanges, brokers, asset managers, custodians, and exchange service providers. This classification will clarify who is authorized to buy, sell, hold, and exchange crypto assets, with the framework set to take effect on September 1, 2026.

As Sberbank moves forward with its plans, the establishment of a regulated cryptocurrency market in Russia marks a pivotal shift in the country’s approach to digital assets, potentially paving the way for increased investment and innovation in the sector.