Russia’s top bank, Sberbank, is making a decisive move into digital assets with plans to launch custodial services for cryptocurrencies — a step that signals how quickly crypto is entering the mainstream in Russian finance.
This shift comes as Russia adapts to a changing global financial landscape. Faced with Western sanctions and evolving international trade dynamics, the country has turned toward blockchain and crypto as strategic tools for economic flexibility.
Speaking to local media, Sberbank’s Anatoly Pronin confirmed the bank had drafted a regulatory proposal aimed at allowing crypto custody similar to traditional banking. The plan includes protections such as asset freezing in cases of illicit use, underscoring the bank’s intention to combine innovation with compliance.
While crypto was once treated cautiously by Russian authorities, recent legal reforms have made room for its use in cross-border transactions. These changes have helped spark broader adoption, especially among institutions seeking to bypass legacy financial systems.
Sberbank, already active in blockchain experimentation, recently issued a Bitcoin-linked bond now trading over-the-counter, with a possible listing on domestic exchanges in sight. The bank’s growing interest in digital finance reflects a national pivot: Russia is currently developing a government-backed crypto exchange designed to serve wealthy individuals and institutions under a controlled legal framework.
The country’s financial evolution, once driven by necessity, is increasingly looking like a long-term strategy.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/russias-largest-bank-prepares-to-store-crypto-assets/