Sberbank, Russia's largest lender, is preparing to launch a cryptocurrency trading and custody platform by 1 December as the country establishes its first comprehensive regulatory framework for digital assets. The initiative responds to Russia's upcoming digital asset legislation, which introduces licensing requirements and oversight categories for crypto businesses under the Bank of Russia's supervision. The regulatory framework will take effect on 1 September 2026, with full licensing requirements for intermediaries beginning on 1 July 2027, creating five categories of regulated market participants including exchanges, brokers, custodians, asset managers and exchange service providers.
Sberbank Develops Digital Depository and Wallet Management System
At the centre of Sberbank's platform will be a digital depository that records customers' crypto ownership on internal ledgers while settling most transactions outside the main blockchain. According to first deputy chairman Alexander Vedyakhin, the depository will maintain records of clients' cryptocurrency rights, account for off-chain transactions and support transfers using active wallets. The bank will manage active wallets for customer deposits, withdrawals and transfers. Sberbank is developing a regulated crypto infrastructure with custody, wallet management and internal record-keeping features ahead of Russia's new digital asset rules.
Russia Sets September 2026 Framework Effective Date with July 2027 Licensing Deadline
Russia's digital asset framework will take effect on 1 September 2026, with full licensing requirements for intermediaries beginning on 1 July 2027. The legislation creates five categories of regulated market participants: exchanges, brokers, custodians, asset managers and exchange service providers. The Bank of Russia will exercise broad supervisory powers over these entities.
Regulated Crypto Assets Require 5 Trillion Rouble Market Cap and 1 Trillion Rouble Daily Volume
Crypto assets offered through the regulated market must satisfy minimum liquidity requirements. Qualifying cryptocurrencies must maintain an average market capitalisation above 5 trillion roubles, equal to about US$64 billion (AU$92.8 billion), and average daily trading volumes exceeding 1 trillion roubles, or roughly US$12.8 billion (AU$18.56 billion), measured over two years. Only larger, more liquid cryptocurrencies are expected to qualify for regulated trading under these thresholds.
Sberbank Has Not Disclosed Supported Cryptocurrencies or Fee Structures
Sberbank has yet to announce which cryptocurrencies will be supported or publish fee structures and eligibility requirements. The launch coincides with continued international sanctions targeting parts of Russia's cryptocurrency ecosystem, including measures by the European Union and the United Kingdom against HTX.
FAQ
When will Sberbank's crypto platform launch?
Sberbank is preparing to launch its cryptocurrency trading and custody platform by 1 December, according to first deputy chairman Alexander Vedyakhin.
What are the market cap and volume requirements for regulated crypto assets in Russia?
Crypto assets offered through Russia's regulated market must maintain an average market capitalisation above 5 trillion roubles (about US$64 billion) and average daily trading volumes exceeding 1 trillion roubles (roughly US$12.8 billion), measured over two years.
