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

According to CoinDesk, Russia's largest bank, Sberbank, plans to launch cryptocurrency wallets and digital custodians before December, provided that the "Digital Currency and Digital Rights Act" officially takes effect in September. The service will be integrated into the "SberbankOnline" and "SberInvestments" applications, providing customers with access to authorized crypto assets within the banking system. The new law will establish a licensing framework for crypto transactions, custody, fiat conversion and cross-border settlement, with a trading limit of approximately 300,000 rubles (approximately US$3,800) per year for non-qualified investors. Other large banks, including VTB and T-Bank, are also preparing related digital custody services.