Sberbank launches crypto wallet by December

The largest bank in Russia, Sberbank, is preparing to launch a crypto wallet and a digital custody service. This will happen within the Sber and SberInvestments apps, and the bank aims to have these services operational by early December at the latest. The timing is linked to the expected entry into force of Russia’s new crypto law on 1 September 2026.

New crypto law as a starting signal

Kirill Tsarev, first deputy chairman of the board of directors at Sberbank, told RBC Investments during the Financial Congress of the Central Bank of Russia that the bank is waiting for the definitive legislation on digital currencies and digital rights. As soon as this law takes effect, Sberbank will begin rolling out the necessary infrastructure for crypto trading.

According to Tsarev, the bank aims to launch a crypto wallet within a few months of the law coming into force. In addition, Sberbank wants to set up a digital depository before 1 December to store and administer cryptocurrencies. Vladimir Chistyukhin, first deputy chairman of the Central Bank of Russia, previously indicated that the law is expected to take effect on 1 September, reports RBC.

Sberbank as an intermediary on foreign exchanges

Alongside its own wallet, Sberbank is also considering acting as an intermediary for Russian clients who wish to trade on foreign crypto exchanges. Whether the bank will actually fulfil this role depends on the final shape of the regulatory framework. It is a notable step, especially given that Russia long pursued a restrictive policy towards crypto.

This development fits into a broader trend in which major financial institutions worldwide are increasingly taking crypto seriously. With its own wallet, a digital custody service and a potential role as a trading intermediary, Sberbank is positioning itself as a central player in Russia’s future crypto market. Whether this pace is achievable will become clear in the coming months.