Sberbank Predicts $46B in Russian Crypto Trading Volume, Eyes Loan Expansion

Sberbank, Russia's largest bank, forecasts significant growth in the country's cryptocurrency trading volume. According to Deputy Chairman Anatoly Popov, the market could reach approximately $46.4 billion in its first year under new legislation, which takes effect on September 1. This figure is expected to increase to around $87.1 billion by 2029.

The bank plans to issue loans secured by Bitcoin, Ether, and USDT once they receive central bank approval. Sberbank has already been providing qualified investors with structured bonds and digital financial assets tied to these cryptocurrencies since 2025. To support this expansion, the bank is set to launch a crypto wallet in its Sber and Sber Investments apps alongside a digital asset depository by early December.

The new law allows retail investors to buy up to $3,700 worth of liquid cryptocurrencies per year, with no purchase limits for qualified investors. However, payments using cryptocurrencies are still banned domestically, but cross-border settlements are permitted for foreign trade contracts between residents and non-residents.