Sberbank Sets Ambitious Deadline for Crypto Infrastructure Launch

Russia's largest bank, Sberbank, is making significant strides in building its crypto infrastructure. According to a report by Russian news agency Interfax, the bank aims to have a digital depository up and running by December 2026.

The digital depository will track clients' crypto rights and record off-blockchain transactions while handling wallet transfers to execute client orders.

This move aligns with Russia's proposed 'On Digital Currencies and Digital Rights' law, which covers retail purchases, exchange trading, clearing, and depositories. The law could accelerate bank-led crypto adoption despite payment restrictions and planned investor tests.

Alexander Vedyakhin, First Deputy Chairman of Sberbank, stated that regulators and the market still need to draft implementing regulations covering depository accounting, bookkeeping, and licensing for new types of intermediaries. He added that Sberbank is ready to share its expertise and participate in this process.