Sberbank Prepares Crypto Trading Infrastructure Amid Russia's Gradual Embrace of Digital Assets

Russia's largest bank, Sberbank, is gearing up to launch cryptocurrency trading infrastructure and a digital depository by December 1. This move comes as part of Russia's gradual incorporation of digital assets into its regulated financial system.

The country's new framework for digital assets, approved by the Federation Council, takes effect on September 1. Transactions will eventually need to pass through licensed brokers, exchanges, asset managers, and depositories from July 2027.

Sberbank's planned depository will record clients' ownership of cryptocurrency and process most transactions outside the underlying blockchain. This design prioritizes control, settlement efficiency, and regulatory visibility over pure on-chain activity.