Sberbank Builds the Infrastructure for Russia's Emerging Crypto Market

The rules governing that market were established in the Law on Digital Currency and Digital Rights, adopted by the State Duma on July 21.

Alongside the launch of its digital depository, Sber is also developing tools that will allow customers to buy and manage cryptocurrencies directly through the Sberbank Online and SberInvestments apps. Around 42 million people use those services every day, giving them potential access to digital assets through interfaces they already know.

Infrastructure Comes First

Sber will not need an additional license to obtain digital depository status. Under the new law, a depository that records cryptocurrency holdings and supports transactions involving active wallets can be established on the basis of an operator of an information system where digital financial assets are issued and traded. Sber already meets that requirement through the platform it operates for digital financial assets. Last year, issuance on that platform reached 408 billion rubles (approximately $5.2 billion) at current exchange rates. That means the bank already possesses extensive blockchain expertise and is now extending it to a new class of digital assets.

"Since 2025, the bank has offered qualified investors structured bonds and digital financial assets linked to Bitcoin, Ether, and diversified cryptocurrency baskets," said Alexander Vedyakhin, First Deputy Chairman of the Executive Board of Sber.

The participation of such a major financial institution in building a comprehensive crypto ecosystem could give millions of people access to a regulated channel for buying and safeguarding digital assets through a familiar banking interface. Bringing cryptocurrency transactions into a regulated financial framework also moves them out of the unregulated sector, improving transparency while broadening the tax base.

Building a Unified Ecosystem

Creating the technological foundation for cryptocurrency operations will require anti-money laundering systems, cybersecurity tools for digital transactions, compliance and customer identification mechanisms, and secure solutions for storing private keys. All software must be developed domestically, creating new demand for Russia's IT sector. Sber is already making substantial investments in that direction.

Sber is not the only institution building a comprehensive ecosystem that will combine the purchase and sale of approved cryptocurrencies, secure custody, brokerage services, tax reporting, and the issuance of related investment products. VTB, Alfa-Bank, and T-Bank have also announced plans to establish their own digital depositories, positioning themselves among the first professional participants in Russia's emerging regulated crypto market.

Crypto Expertise Built Over Time

Sber has accumulated significant expertise in digital assets over the past several years. The bank launched its blockchain platform for issuing digital financial assets in 2022. That same year, it introduced an educational program on decentralized finance for fintech professionals and investors. In 2023, the platform hosted Russia's first loan secured by digital financial assets, integrating them into traditional banking instruments. In 2024, Sber expanded the practical use of blockchain technologies for raising and allocating capital by issuing its own digital financial assets.

In 2025, Russia introduced an experimental legal framework for cryptocurrency transactions related to foreign trade, and Sber announced its readiness to participate in the pilot program for international settlements. In July of this year, the State Duma adopted the law that will serve as the foundation for the country's emerging crypto market. Sber had already begun preparing the necessary infrastructure while the legislation was still under consideration so it could move quickly once the new rules took effect.

One Year to Adapt

Only organizations included in a special register maintained by the Central Bank of Russia will be permitted to operate legally with digital currencies and digital assets. Conducting such activities without authorization may result in criminal liability. Market participants have been given one year to build the required infrastructure and obtain regulatory approval before entering the new crypto market. "Our position is very straightforward: those who do not become legal participants during the transition period will have to leave this market," explained Vladimir Chistyukhin, First Deputy Governor of the Central Bank of Russia. By July 2027, Russia is expected to have a fully regulated cryptocurrency market in which banks, exchanges, brokers, and specialized digital depositories operate under a common set of rules.

When someone buys cryptocurrency through a banking or brokerage app for the first time, they are evaluating more than just access to the market. They are judging how intuitive the service is, how quickly support responds, and whether they feel their assets are secure. Behind that seemingly simple user experience must stand a system that records transactions accurately, identifies transaction clusters, and protects customers from fraud. The easier it becomes to enter the market through an app, the higher the demands placed on the expertise hidden beneath the interface. Ultimately, the quality of that invisible infrastructure will determine who earns customers' long-term trust, not simply who processes their first trade

Alexander Vedyakhin

First Deputy Chairman of the Executive Board of Sber