Sberbank readies crypto wallet as Russian regulatory deadline looms

First Deputy Chairman Kirill Tsarev confirmed the bank is aligning its rollout with the upcoming regulatory framework. Android users likely face an earlier interface update than iPhone users due to app store constraints. While the wallet integration is slated for shortly after the law’s enactment, the depository infrastructure is expected to follow by December 1. Beyond internal tools, Sberbank is exploring a role as an intermediary for trading on foreign cryptocurrency exchanges, provided domestic regulations permit such cross-border activity.

Sberbank’s strategy reflects a broader trend among major Russian financial institutions. Both VTB and T-Bank Group have signaled intentions to establish similar digital asset repositories, while the Moscow Exchange targets crypto-related operations before 2026 ends. These moves coincide with the Central Bank’s push to launch the digital ruble, a central bank digital currency set for a major rollout starting September 1. Under the new regime, any firm offering custody or settlement services will be required to operate under a strict licensing mandate.