Russia's biggest bank targets Dec. 1, 2026 for exchange and custody launch as the country's crypto law takes effect Sept. 1. Regulatory details on asset eligibility and investor caps are now set.
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Sberbank, Russia's largest bank, plans to launch cryptocurrency exchange and custody services by Dec. 1, 2026, the bank's first deputy chairman Alexander Vedyakhin said. The infrastructure will support regulated crypto trading and settlement, with a digital depository holding client holdings off-chain and hot wallets for deposits and withdrawals.
Russia's crypto law takes effect Sept. 1, 2026, covering trading platforms, banks, and custody providers. Licensed firms have until July 1, 2027 to register. Non-accredited retail investors must pass an educational test, then buy up to 300,000 rubles of approved digital assets per year through a single intermediary. Accredited investors also undergo testing but face no annual cap on purchases.
To be listed on exchange, a cryptocurrency must hold an average market cap above 5 trillion rubles and daily trading volume exceeding 1 trillion rubles over two years, the law states. The Bank of Russia will oversee custody rules and investor protections.
Sberbank already has a foothold in digital assets. It registered as an information system operator in 2022, later issuing structured bonds linked to Bitcoin and Ethereum. In December 2025, it completed a crypto-collateralized loan trial with mining firm Intelion Data. The bank has also given the central bank recommendations on customer crypto storage.
Other Russian lenders are moving in parallel. VTB and T-Bank have built digital custody platforms. Moscow Exchange has explored regulated crypto offerings. Alfa-Bank has run limited crypto services and storage tests.
Sberbank has not disclosed which cryptocurrencies will trade on its platform. Transaction fees, customer eligibility, and withdrawal rules remain undecided, pending final guidance from Russian regulators.
Cryptocurrency use for domestic commercial transactions inside Russia stays barred. International settlements using crypto will be allowed in specific cases.
The regulatory framework sets a clear timeline but leaves key details to the Bank of Russia. Sberbank's December target anchors the earliest major exchange launch under the new rules.
For broader context on where exchange-led crypto adoption fits, see crypto market analysis.
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