Russia’s Largest Bank Makes Crypto Move: New Era Begins on December 1st
Russia’s largest bank, Sberbank, plans to launch its cryptocurrency trading infrastructure and digital custody center by December 1st.
Russia is taking a massive step toward integrating cryptocurrencies into its official financial system. The country’s banking giant, Sberbank, aims to complete the technical infrastructure required for buying, selling, and securely storing digital assets by the end of the year. This move follows the approval of new regulations by the Russian Federation Council that place crypto trading within a legal framework.
The digital custody center to be established will record customers’ cryptocurrency assets. The bank will ensure efficiency by conducting a large portion of transactions off the main blockchain network. Additionally, Sberbank will operate active wallets so users can easily deposit, withdraw, and transfer funds. Although the new legal regulations took effect as of September 1st, the requirement to conduct all transactions through licensed intermediaries will begin in July 2027.
New Rules for Crypto Trading in Russia
The Central Bank of Russia has introduced extremely strict liquidity requirements for cryptocurrencies to be traded on public exchanges. For an asset to be listed, its average market capitalization over the last two years must exceed 5 trillion rubles (approximately $64 billion), and daily trading volume must exceed 1 trillion rubles (approximately $12.8 billion). This means only the strongest and most reliable assets in the market can be traded on a legal basis. While qualified investors can access a wider range of products, certain limits, such as 300,000 rubles per year, will apply to individual investors.
Paying with cryptocurrency for goods and services within the borders of Russia remains prohibited. However, this institutional move by Sberbank proves that the country views digital assets as a strategic investment tool. Previously, the bank increased its experience in this field by working on Bitcoin (BTC)-backed loans and bonds. Now, with this bridge extending from its physical branches to the digital world, a new era is beginning in the Russian financial system.