Russian Hardware Wallet Demand Skyrockets Ahead of Cryptocurrency Regulation Deadline

Russian consumers are buying up hardware cryptocurrency wallets at an unprecedented rate as the country's new regulatory framework for digital assets looms on September 1, 2026. According to M.Video, electronics retailer sales of hardware-wallet units jumped 107% in the second quarter of 2026 compared with the first quarter.

RWB, the operator of Wildberries marketplace, reported that unit sales of hardware wallets rose 84% in the first half of 2026 from a year earlier. The average purchase price for a hardware wallet fell by 13% to 7,900 rubles, indicating buyers are gravitating toward more affordable devices.

The trend is not isolated to one platform or retailer. Established wallet manufacturers such as Ledger and Trezor appear to be the primary beneficiaries of the rising demand, with Ledger accounting for almost 30% of unit sales on M.Video's marketplace.