Key Highlights
- Sberbank plans to launch a crypto wallet in its mobile apps within months after Russia’s new crypto law takes effect.
- Russia’s new crypto law will create a legal framework for crypto custody, trading, and other digital asset services starting September 1, 2026.
- Other major financial firms, including VTB, T-Bank Group, and Moscow Exchange, are also preparing to launch crypto-related services.
Russia’s largest bank, Sberbank, is preparing to launch a cryptocurrency wallet for its customers as the country moves closer to introducing new rules for digital assets.
According to a local report, First Deputy Chairman Kirill Tsarev announced the plan during the Bank of Russia’s Financial Congress.
He said the bank expects to roll out the crypto wallet within a few months after the new law becomes active. Sberbank also plans to complete its digital asset depository by December 1. The depository will store customers’ cryptocurrencies and keep records of their digital assets under the new legal system.
“As the regulation appears, we will prepare a service for our customers. In fact, it will be a crypto wallet, which we will implement primarily in Sberbank Online and SberInvestments,” Tsarev said.
Launch depends on final government approval
Tsarev said the exact launch date will depend on when the government releases the final version of the law. Another factor is how quickly updated versions of Sberbank’s mobile apps are approved and made available in online app stores.
Because of this, Android users could gain access to the new crypto features before iPhone users if app updates reach Google’s Play Store earlier than Apple’s App Store.
Sberbank eyes role in foreign crypto trading
Sberbank is also looking at another opportunity that could come with the new law. Russian lawmakers are discussing an amendment that would allow people in the country to trade cryptocurrencies on foreign exchanges through licensed Russian companies.
Tsarev said Sberbank is interested in becoming one of those companies. However, he added that the bank will only make a final decision after Russia’s rules are completed and after reviewing the requirements set by foreign crypto exchanges.
Russia’s new crypto framework takes shape
The law is being prepared by Russia’s Ministry of Finance and the Bank of Russia.
According to First Deputy Chairman of the Central Bank Vladimir Chistyukhin, the law is expected to take effect on September 1, 2026. It will create a legal system for companies that want to offer crypto-related services.
Licensed firms will be permitted to custody digital assets, facilitate cryptocurrency trading, exchange crypto for fiat currency, and support cross-border crypto payments.
The rules will also introduce a transition period to help companies prepare. Chistyukhin said cryptocurrency operations under the new framework could begin as early as November 2026. Businesses will then have until July 1, 2027, to complete registration and meet all licensing requirements before the full system is in place.
Other banks are preparing too
Sberbank is not the only company preparing for the changes. According to the report, VTB and T-Bank Group also plan to build digital depositories for cryptocurrency once the law comes into force.
Moscow Exchange has also said it plans to launch cryptocurrency services before the end of 2026 after the legal framework is approved.
The planned launches indicate that Russia’s financial sector is preparing for a more regulated digital asset market. If approved, Sberbank’s crypto wallet and related services would become part of the country’s broader framework for regulated cryptocurrency custody and trading.
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