- Russia's largest bank plans a crypto wallet launch.
- The rollout depends on new digital asset legislation.
- A digital asset depository is also planned.
- Other major Russian financial firms are preparing similar services.
Russia's largest bank, Sberbank, is preparing to launch a cryptocurrency wallet and digital asset depository later this year as the country moves closer to implementing its new digital asset framework.
According to local reports, Sber aims to integrate crypto services into its banking and investment apps shortly after the legislation is expected to take effect in September, with a full rollout targeted for early December.
The new framework will introduce licensing requirements for digital asset custody, trading, and settlement providers across Russia.
Sber is also evaluating whether to serve as an intermediary for clients accessing foreign crypto exchanges, though that decision will depend on final regulatory rules.
Several other major financial institutions, including VTB, T-Bank, and the Moscow Exchange, are also developing crypto-related infrastructure ahead of the new regulations.
