Russia Sees Hardware Wallet Demand Soar Ahead of Regulatory Overhaul

Russia is experiencing a surge in demand for hardware cryptocurrency wallets as investors prepare for new regulatory frameworks. According to M.Video, unit sales of hardware wallets on its marketplace jumped 107% in the second quarter compared to the first three months of the year. The average device sold for about 7,900 rubles, down 13% from a year ago.

Wildberries reported an 84% increase in unit sales during the first half of 2026 compared with the same period a year earlier, while sales by value climbed 60%. Ledger accounted for close to 30% of units sold through M.Video and roughly 40% of category revenue, while Trezor represented about 20% of both sales and turnover.

The new regulatory framework will create regulated cryptocurrency exchanges, brokers, and digital depositories. Non-qualified retail investors will be allowed to buy the most liquid cryptocurrencies after passing a knowledge test, with purchases capped at 300,000 rubles per year through each intermediary.