Russia’s Largest Bank Sberbank Plans to Build Crypto Custody System by Dec. 1

TLDR:

• Sberbank plans crypto depository and trading infrastructure launch by December 1 this year.
• Russia’s new crypto regulatory framework takes effect Sept. 1, tightening by July 2027.
• Only cryptocurrencies above $64B market cap qualify for public exchange trading access.
• Sberbank previously piloted bitcoin bonds and bitcoin-backed lending with miner Intelion Data.

Russia’s largest bank Sberbank plans crypto trading infrastructure ahead of a Dec. 1 launch date. The lender aims to roll out a digital depository supporting regulated trading, custody and settlement. Most transactions will process off the underlying blockchain, Interfax reported.

Sberbank will operate active wallets handling client deposits, withdrawals and transfers. The plan follows new legislation approved by Russia’s Federation Council this year.

Sberbank’s Infrastructure Plan Fits Broader Legal Framework

Sberbank’s crypto trading infrastructure plan aligns with Russia’s evolving digital asset rules. The Federation Council approved a law regulating trading through licensed brokers and exchanges.

Asset managers and depositories also fall under this new regulatory structure. The framework takes effect Sept. 1, marking a formal shift in policy.

Rules requiring licensed intermediaries for every transaction will apply starting July 2027. This gap gives banks time to build systems before stricter enforcement begins.

Sberbank’s early move signals its intent to lead among domestic financial institutions. Other Russian banks may follow with similar infrastructure announcements in coming months.

Public trading access will stay limited to select cryptocurrencies under the new rules. Qualifying assets must meet Bank of Russia liquidity thresholds set by regulators.

These thresholds include market capitalization above 5 trillion rubles, near $64 billion. Average daily trading volume must also exceed 1 trillion rubles over two years.

Qualified investors will gain access to a broader set of digital assets. Retail crypto payments for goods and services remain banned inside Russia.

The distinction between qualified and retail investors shapes how the market will function. Sberbank’s depository system is built to operate within these defined boundaries.

Bank’s Prior Crypto Moves Support New Trading Push

Sberbank’s crypto trading infrastructure plans build on earlier product experience in digital assets. The bank began offering structured bonds tied to bitcoin to qualified investors last year.

It also completed a bitcoin-backed lending pilot with miner Intelion Data in December. These steps gave Sberbank operational insight before committing to full infrastructure.

Russia has steadily expanded its regulated crypto framework over recent years. A 2024 law legalized mining and created a cross-border settlement regime.

This groundwork supported the broader custody and trading rules now taking shape. Sberbank’s depository plan represents a natural extension of that regulatory progression.

The Bank of Russia widened investor access to crypto-linked products during 2025. Qualified investors gained approval to purchase these products through licensed channels.

Regulators separately proposed limited direct retail crypto purchases under strict testing conditions. Any retail access would carry an annual cap of 300,000 rubles per intermediary.

Sberbank’s December target places it ahead of many peer institutions in the region. Its dual position as depository operator and bitcoin product provider stands out. The bank’s progress on crypto trading infrastructure may guide future regulatory discussions nationwide.

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