Sberbank targets December crypto trading launch

• Sberbank plans to launch crypto trading infrastructure by 1 December.
• The move supports Russia's new regulated cryptocurrency market.
• The bank said the platform will expand digital asset services for eligible investors.

Sberbank plans to launch crypto trading infrastructure and a digital depository by 1 December under Russia's new digital asset rules.

Russia passed new laws that allow licensed firms to offer crypto trading and custody from 1 September, with more rules due in 2027.

“One of the key elements of the new infrastructure will be a digital depository, which will maintain records of clients’ cryptocurrency rights and account for transactions outside the main blockchain,” said Sberbank First Deputy Chairman Alexander Vedyakhin.

The bank said the platform will record crypto ownership, manage wallets, and process many transactions away from the main blockchain, while only approved cryptocurrencies will be available.

Sberbank said the platform supports Russia's new crypto framework, and cryptocurrency payments remain banned for goods and services in the country.

Sberbank has expanded its digital asset business through Bitcoin (CRYPTO:BTC)-linked investment products, crypto-backed lending trials, and the planned launch of its new trading platform.

At the time of reporting, Bitcoin price was $65,378.24.