Russia's largest bank Sberbank plans to build a crypto custody system by December 1

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Russia's largest bank Sberbank plans to build a crypto custody system by December 1

2026-07-26 12:14:27

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Russia's Federal Reserve Bank's infrastructure plan conforms to the broader legal framework Russia's Federal Reserve Bank plans to launch crypto asset depository and trading infrastructure by December 1 this year. Russia The new regulatory framework for crypto assets will take effect on September 1 and will be further tightened in July 2027. Only crypto assets with a market value of more than $64 billion are eligible for trading on a public exchange. The bank has previously partnered with mining company Intelion Data to pilot bitcoin bonds and bitcoin mortgages. As Russia's largest bank, Russia's Federal Reserve Bank plans to establish a crypto-asset trading infrastructure before the launch date of December 1. The bank aims to launch a digital depository system that supports regulated transactions, custody and settlements. According to the Interfax news agency, most transactions will be processed outside of the underlying blockchain. Russia's Federal Savings Bank will operate active wallets and process customers 'deposits, withdrawals and transfers. The plan follows new legislation approved by the Russian Federal Council this year. Russia Federal Reserve Bank's Crypto Asset Trading Infrastructure Plan and Russia Maintain consistency with evolving digital asset rules. The Federal Council approved a law that requires trading through licensed brokers and exchanges. Asset management companies and depositaries also fall into this new regulatory structure. The framework will take effect on September 1, marking a formal shift in policy. The requirement that every transaction must be conducted through a licensed intermediary will come into effect in July 2027. This interval gives banks time to build systems before stricter enforcement begins. Early actions by Russia's Federal Reserve Bank demonstrated its intention to lead the trend among domestic financial institutions. Other Russian banks are likely to issue similar infrastructure announcements in the coming months. Under the new rules, access to public transactions will be limited to specific crypto assets. Eligible assets must meet the liquidity threshold set by Russia's Central Bank. These thresholds include a market value of more than 5 trillion rubles (approximately US$64 billion) and an average daily transaction volume of more than 1 trillion rubles over two years. Qualified investors will gain broader rights to invest in digital assets. The use of crypto-assets to pay for goods and services is still prohibited in Russia . The difference between qualified investors and retail investors determines how markets work. Russia's Federal Reserve Bank's depository system is designed to operate within these established boundaries. The bank's previous crypto-asset initiatives support new transaction push Russia Federal Reserve Bank's crypto asset trading infrastructure plan builds on its early experience with digital asset products. The bank began offering bitcoin-linked structured bonds to qualified investors last year. It also completed a Bitcoin mortgage pilot with mining company Intelion Data in December. These steps allowed Russia's Federal Sberbank to gain operational experience before investing in comprehensive infrastructure. In recent years, Russia has steadily expanded its regulated crypto asset framework. A 2024 law legalizes mining and establishes a cross-border settlement mechanism. This foundation underpins the broader custody and trading rules currently being developed. Russia's Federal Reserve Bank's depository plan is a natural extension of this regulatory process. In 2025, Russia's Central Bank expanded investors 'access to crypto-asset-related products. Qualified investors are approved to purchase these products through licensed channels. Regulators also separately proposed allowing retail investors to purchase crypto assets directly on a limited basis under strict testing conditions. A cap of 300,000 rubles per agency per year will be set for any retail access. Russia's Federal Reserve Bank's December target puts it ahead of many of its peers in the region. Its dual role as a depositary operator and a provider of Bitcoin products is particularly prominent. The bank's progress on crypto asset trading infrastructure could guide future regulatory discussions across the country.

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Russia's largest bank Sberbank plans to build a crypto custody system by December 1

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