Russia's Largest Bank Plans Crypto Wallet Launch by Year-End

Sberbank, Russia's largest bank, is a key pillar of the country's financial system. Its preparations for a cryptocurrency wallet and digital-asset custody services reflect Moscow's shift from restricting crypto toward establishing a regulated framework for trading and cross-border settlements. A direct link between traditional banking and digital-asset markets could broaden lawful access for companies and investors.

Sberbank plans to launch the cryptocurrency wallet and digital custody services in December, in line with digital currency legislation scheduled to take effect in September. The services will be integrated directly into Sberbank's online banking and investment platforms, allowing customers to access them through existing accounts. Reports have yet to disclose the investment involved, fee structure or cryptocurrencies that will initially be supported.