Russia's largest bank Sberbank plans to launch compliant cryptocurrency wallets and custody services within the year

According to CoinDesk, Russia's largest bank Sberbank plans to launch a cryptocurrency wallet and digital custody service before December, provided that the "Digital Currency and Digital Rights Bill" officially takes effect in September. This service will be integrated into the "Sberbank Online" and "SberInvestments" apps, providing customers with access to authorized crypto assets within the banking system.

The new law will establish a licensing framework for crypto trading, custody, fiat currency exchange, and cross-border settlements, with a trading limit of approximately 300,000 rubles (about $3,800) per year for non-qualified investors. Other large banks, including VTB and T-Bank, are also preparing related digital custody services.