Sberbank to Develop Cryptocurrency Trading Infrastructure by December

Russia’s leading financial institution, Sberbank, intends to establish cryptocurrency trading infrastructure and launch a digital depository by December 1. This move aligns with Russia’s broader initiative to integrate crypto trading, custody, and settlement services into its regulated financial ecosystem.

According to Interfax, the new depository will serve to record client ownership of various cryptocurrencies and facilitate the majority of transactions off-chain. Sberbank plans to manage active wallets to support client-driven deposits, withdrawals, and transfers.

This strategic rollout follows the Federation Council’s approval of legislation that regulates cryptocurrency trading through licensed brokers, exchanges, asset managers, and depositories.

While the regulatory framework is scheduled to take effect on September 1, the specific requirements mandating that transactions be processed through licensed intermediaries will be implemented starting in July 2027.

Public exchange trading will be restricted to cryptocurrencies that satisfy Bank of Russia liquidity standards. To qualify, assets must maintain an average market capitalization exceeding 5 trillion rubles ($64 billion) and an average daily volume surpassing 1 trillion rubles ($12.8 billion) over a two-year period.

While qualified investors will be granted access to a wider selection of digital assets, the use of cryptocurrency for payments regarding goods and services within Russia remains prohibited.

Sberbank has been expanding its digital asset footprint, having introduced structured bonds linked to bitcoin for qualified investors last year, and recently concluding a bitcoin-backed lending pilot program with miner Intelion Data in December.

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