Sberbank Set for December Crypto Wallet Launch Under New Russian Crypto Law

Sberbank, Russia’s largest bank, is reportedly planning to roll out a cryptocurrency wallet and a digital asset custody feature in its Sber and SberInvestment apps, with a launch expected around early December, according to RBC.

The planned rollout is tied to the country’s upcoming cryptocurrency legislation, which is expected to come into force on September 1 and will define the regulatory framework for digital asset operations in Russia.

Following the implementation of the new rules, Sberbank is also considering expanding its role to act as an intermediary for Russian users accessing foreign cryptocurrency exchanges, depending on the final regulatory guidelines.

Source: RBC