Sberbank Prepares for Crypto Wallet Launch Ahead of Russian Law

Russia's largest bank, Sberbank, is planning to launch a crypto wallet and digital custody service by December 2026. The new services will be available in the Sberbank Online and SberInvestments apps and allow customers to store and manage approved cryptocurrencies within the bank's existing digital platform.

The development of these services follows Russia's new crypto law, which is set to take effect on September 1, 2026. The law will establish regulations for crypto trading, custody, fiat exchange, and cross-border payments, enabling banks to provide regulated crypto services.

Sberbank's First Deputy Chairman, Kirill Tsarev, stated that the bank is working on the service as the regulations become clearer. He emphasized that the final launch date will be subject to the government's final rules.