Russia’s largest bank is preparing a digital depository and systems for deposits, withdrawals and transfers to support cryptocurrency trading as Moscow pushes crypto activity into regulated finance.
Sberbank, Russia’s largest bank, plans to build cryptocurrency trading infrastructure by December 1 as Russia moves to bring crypto trading, custody and settlement into its regulated financial system. The project includes a digital depository to record customers’ crypto holdings, along with systems for deposits, withdrawals and transfers. Sberbank is also set to operate active wallets for client transactions, providing the operational backbone for custody and trading services.