Sberbank Prepares Regulated Crypto Trading Platform by December 1st

Russia's Sberbank plans to launch a regulated crypto trading platform by December 1st, 2026. The bank is developing digital depositories that will track ownership and conduct transactions in line with current laws being considered by parliament.

According to Alexander Vedyakhin, First Deputy Chairman of Sberbank's Management Board, the new infrastructure will include a digital depository to maintain records of clients' cryptocurrency rights and account for transactions outside the main blockchain. This platform will also facilitate transactions on active wallets to fulfill clients' currency transfer orders.

The development follows the State Duma's approval of the On Digital Currency and Digital Rights bill in July 2023. The bill sets rules for purchases by citizens, licensed middlemen, exchange trading, clearing, custody, and digital depositories. Russia currently allows crypto ownership, mining, trading, and some overseas use under separate rules.