Russia's Sber Bank Sets Stage for Cryptocurrency Trading with Digital Depository

Sber, one of Russia's largest banks, is moving ahead with its plan to create a digital depository for cryptocurrency. By December 1, 2026, Sber will launch an infrastructure for trading crypto assets and establish a registry for these assets.

The digital depository is designed to provide a regulated environment for clients' rights and transactions related to crypto assets. This means that market participants can expect increased transparency in the banking accounting system for cryptocurrency investments.

For businesses, compliance with new rules and clear reporting will be essential. The bank plans to support transactions through authorized intermediaries, verify them, and then credit the monetary result to clients' bank accounts.

The adoption of a federal law regulating the crypto market has cleared the way for Sber's initiative. However, the regulator still needs to fine-tune depository and accounting procedures, licensing requirements for intermediaries, and reporting obligations.