Sberbank Predicts $46 Billion in Crypto Trading Volume in First Year

Russia's largest bank, Sberbank, is forecasting significant growth in its cryptocurrency trading volume. According to Deputy Chairman Anatoly Popov, the bank expects to hit 4 trillion rubles ($46.43 bln) in trading volume by the end of its first year of crypto operations.

This estimate was deemed 'conservative' by the bank, which forecasts even higher volumes in future years. By 2029, Sberbank predicts it will reach a trading volume of 7.5 trillion rubles ($87.06 bln).

The bank's entry into the crypto market comes as Russia moves to regulate digital assets within its borders. The Bank of Russia published draft regulations for crypto trading in July, and the State Duma is working on comprehensive legislation.