Sberbank Aims to Launch Regulated Crypto Infrastructure by December 2026

Russia's largest bank, Sberbank, is building a full-stack cryptocurrency infrastructure to launch by December 2026. The project involves creating a digital depository that will record clients' crypto ownership and settle transactions off-chain, reducing fees and increasing auditability.

The digital depository will maintain records of clients' cryptocurrency rights and account for transactions outside the main blockchain. Sberbank will also operate active wallets to handle client-initiated deposits, withdrawals, and transfers, prioritizing compliance and consumer protection over decentralization.

Russia's new crypto law creates a comprehensive regulatory structure for the country's financial system. The framework takes effect on September 1, 2026, with licensing compliance required by July 1, 2027. The Bank of Russia will oversee five categories of regulated participants and has set strict liquidity thresholds for eligible assets.

The new law defines five categories of entities that can operate in Russia's regulated crypto market: crypto exchanges, brokers, asset managers, custodians, and exchange service providers. Banks, brokers, and asset managers may offer crypto services under existing licenses with additional requirements, while new crypto exchanges and digital repositories will require separate regulatory approval.