M.Video reports 107% Q2 unit sales jump; Wildberries up 84% H1. Self-custody demand rises as Sept. 1 law limits retail crypto purchases to 300,000 rubles per year.
Alpha Score of 40 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Russia hardware wallet sales more than doubled on major online marketplaces in the second quarter of 2026. Electronics retailer M.Video reported a 107% jump in unit sales on its marketplace compared with the first quarter, with category turnover rising 92% over the same period, according to Fedor Pavlenko, the retailer’s head of category development. The turnover figure reflects a wider product assortment, not just price increases, he said.
Separately, marketplace operator RWB told RIA Novosti that Wildberries’ hardware-wallet unit sales rose 84% in the first half of 2026 from a year earlier, while sales value rose 60%. The average purchase price on Wildberries fell 13% year over year to 7,900 rubles, suggesting buyers are choosing cheaper devices even as volumes climb.
The sales surge comes as Russia prepares to implement a new crypto-market framework. The Bank of Russia said the law enters into force on September 1, 2026, allowing regulated exchanges and digital depositories while maintaining the ban on domestic crypto payments. Unqualified investors will be limited to buying no more than 300,000 rubles of liquid cryptocurrencies per year through a single intermediary after passing testing. Market participants have a transition period until July 1, 2027 to obtain licenses and comply.
M.Video said Ledger accounted for almost 30% of hardware-wallet unit sales and about 40% of turnover in the category. Trezor made up about 20% of unit sales and more than 20% of turnover. The 7,900-ruble average wallet price is small relative to the 300,000-ruble annual cap, which separates affordability from any claim that the rules themselves are driving demand.
The retailer figures use different measurement windows and none disclosed nationwide unit totals, so a Russia-wide aggregate cannot be independently confirmed from these disclosures alone.
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