Russia’s Sberbank to Build Crypto Trading, Digital Custody Infrastructure by Year-End

Russia’s largest bank, Sberbank, plans to build cryptocurrency trading infrastructure and a digital custody system by Dec. 1.

CoinDesk reported on July 25 that Sberbank is targeting Dec. 1 to launch the trading infrastructure and a digital custodian. Russian state news agency Interfax reported that the custodian would record clients’ ownership of digital assets and process most transactions off the underlying blockchain. Sberbank also plans to operate active wallets for client deposits, withdrawals and transfers.

The plan follows the Federation Council’s approval of a bill regulating cryptocurrency trading through licensed brokers, exchanges, asset managers and custodians. The law takes effect on Sept. 1, while a provision requiring trades to go through licensed intermediaries will apply from July 2027.

Cryptocurrencies eligible for trading on public exchanges must meet liquidity standards set by the Bank of Russia. Those standards require a two-year average market capitalization of at least 5 trillion rubles, or about $64 billion, and average daily trading volume of at least 1 trillion rubles, or about $12.8 billion. Qualified investors will be able to access a broader range of assets. Even so, using cryptocurrencies to pay for goods and services inside Russia remains banned.

Sberbank has already moved into parts of the crypto business. Last year, it began selling Bitcoin-linked structured bonds to qualified investors. In December 2025, it completed a pilot program with mining company Intelion Data for Bitcoin-backed loans.

Russia has been gradually bringing crypto into the regulated financial system. In 2024, it legalized mining and introduced an experimental framework for crypto-based cross-border payments. In 2025, the Bank of Russia allowed qualified investors to access crypto-linked financial products. It later proposed allowing retail investors to buy crypto directly after testing, with an annual cap of 300,000 rubles per intermediary.