Alexander Vedyakhin, first deputy chairman of Sberbank, confirmed the institution is fast-tracking the development of its wallet and accounting systems to meet the year-end target. The platform is designed to record cryptocurrency ownership and handle transactions, utilizing controlled wallets for deposits and transfers while keeping much of the activity off public blockchain networks. While the bank has yet to disclose specific supported assets, fee structures, or eligibility criteria, these details remain subject to final regulatory approval from the Bank of Russia.
The new national framework, taking effect September 1, 2026, establishes a tiered system for participation. Non-qualified investors will be permitted to trade up to 300,000 rubles annually, provided they pass a mandatory knowledge test, whereas qualified investors will face fewer restrictions on asset variety. Although the rules explicitly prohibit using cryptocurrency for domestic goods and services, they provide a pathway for cross-border settlements.
Sberbank is not acting in isolation. Other major financial groups, including VTB, T-Bank, and the Moscow Exchange, are concurrently building out their own digital depository and trading tools. Sberbank brings prior experience to this sector, having acted as a registered information system operator since 2022 and successfully piloting crypto-backed lending programs with miners like Intelion Data. The bank’s infrastructure project serves as a key test for the viability of regulated, bank-led crypto services within the Russian financial system.
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