Sberbank Launches Crypto Trading Infrastructure by December

Sberbank, one of Russia's largest banks, is accelerating its foray into cryptocurrency trading. By December 1st, the bank plans to launch a crypto trading infrastructure and digital depository under Russia's new digital asset laws.

The platform will allow eligible investors to expand their digital asset services, with only approved cryptocurrencies available. The digital depository will maintain records of clients' cryptocurrency rights and account for transactions outside the main blockchain.

This move supports Russia's efforts to regulate its cryptocurrency market, which allows licensed firms to offer crypto trading and custody from September 1st. Sberbank has been expanding its digital asset business with Bitcoin-linked investment products and crypto-backed lending trials.