Sberbank Plans Crypto Wallet for 110M Customers by December

Russia’s largest bank wants its 110 million clients to hold crypto inside the same app they use for rubles. Sberbank plans to launch a crypto wallet and digital depository service by December 1, 2026. The service would sit inside Sberbank Online and SberInvestments, the bank’s existing consumer platforms. Sberbank said the launch depends on passage of new digital asset legislation currently before the State Duma.

A bill to regulate cryptocurrencies passed its first reading in April 2026. Lawmakers aim to complete the framework by July 1, 2026. Key provisions would take effect September 1. That gives Sberbank roughly three months to finalize systems before the December target.

Sberbank’s digital asset platform already shows strong demand. The platform processed RUB 408 billion in transactions during 2025, about $4.9 billion. That was a 5.6x increase from 2024. Sberbank’s own holdings of digital assets surged sevenfold to RUB 185 billion in just six months during 2025.

Sberbank issued a pilot crypto-backed loan to Intelion Data in late 2025. The bank also ran experiments with tokenized products. The pilot tested the legal and operational mechanics of using crypto as collateral in a regulated bank loan. If the framework becomes permanent, such loans could become routine.

The regulatory bill would classify digital assets as property and establish a licensing regime for custody and exchange. That structure mirrors frameworks in other jurisdictions but with Russian specifics. The State Duma’s first reading passed with broad support.

Sberbank is majority-owned by the Russian government. International sanctions have squeezed Russia’s access to traditional financial rails. Crypto has emerged as an alternative channel for certain cross-border payments. A crypto wallet at a state-owned bank could attract secondary sanctions if the service is used to bypass restrictions. Sberbank’s announcement did not address that risk explicitly. The contingent language on regulation suggests the bank is aware of the external constraints.

The December 1 deadline falls after the expected effective date of the new law on September 1. If the law passes on schedule, Sberbank will have three months to integrate the wallet into its apps and meet compliance requirements. The bank has already built the DFA platform. The incremental work may be manageable.

For retail clients, the wallet would offer direct crypto storage alongside ruble accounts. That integration is a different model from standalone exchanges. It could lower the barrier to entry for millions of Russians already using Sberbank for banking.

The bill now moves to its second reading. Any changes to the text could shift the timeline. Sberbank’s own growth in digital assets suggests the bank sees a large opportunity. The 2025 numbers show institutional demand exists. The wallet service would extend that to retail.

Read more: Sberbank to Launch Crypto Wallet Under Russia's New Digital Currency Law