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Russia's largest bank Sberbank plans to launch a crypto wallet service by the end of the year, pending the new law's effective date.

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On July 6, Russia’s largest bank, Sberbank, plans to launch cryptocurrency wallet and digital asset custody services as early as this December, after the new digital asset law, the Digital Currency and Digital Rights Law, takes effect on September 1, and to integrate these services into the SberbankOnline and SberInvestments platforms. Under the new regulations, Russia will establish a licensing system covering crypto trading, custody, fiat currency exchange, and cross-border settlement, with an annual transaction limit for ordinary investors of approximately 300,000 rubles (about $3,800). In addition, major Russian banks such as VTB and T-Bank are also preparing to roll out digital asset custody services.
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