Sberbank Eyes Crypto Wallet Launch as Russia Awaits Regulation

Sberbank, Russia's largest bank, is planning to launch a crypto wallet and digital depository service by December 1, 2026. The move comes as the bank seeks to provide its over 110 million clients with a way to hold cryptocurrency in the same way they hold rubles.

The service will be integrated directly into Sberbank Online and SberInvestments, the bank's existing consumer-facing platforms. This expansion is contingent on the passage of new digital asset legislation currently being worked out by the State Duma.

Sberbank has already processed RUB 408 billion (approximately $4.9 billion) in transactions through its digital financial asset platform in 2025, a 5.6x increase from the previous year. The bank's own DFA holdings also surged sevenfold in six months of 2025 to reach RUB 185 billion.

Russia's crypto regulation bill passed its first reading in April 2026 and is expected to establish a licensed intermediary framework for custody and exchange by July 1, 2026. The provisions from the legislation are set to take effect on September 1, 2026, giving Sberbank approximately three months to finalize its systems before the December target date.