Russia’s Biggest Bank Plans to Offer Crypto Custody Services
The post Russia’s Biggest Bank Plans to Offer Crypto Custody Services appeared on BitcoinEthereumNews.com. On July 17, 2025, Russia’s largest state-owned lender, Sberbank, announced plans to offer custodial services for digital assets. This marks a significant development in the institutional adoption of crypto in Russia, particularly as the country seeks to expand its domestic digital asset infrastructure. But while this may sound like a leap forward, the move raises an essential question for crypto users worldwide: Is storing your crypto with a bank really progress — or a step backward? Sberbank’s Entry Into Crypto Custody Sberbank currently allows clients to store Russian-issued digital assets – including tokenized securities and other blockchain-based instruments – within its custody framework. These assets are built on Sberbank’s own blockchain platform, and the bank has plans to expand support to a wider range of digital financial tools. According to Sberbank executives, this initiative will help standardize crypto ownership under regulated structures, provide safe storage, and increase institutional trust in digital asset markets. In practice, it resembles traditional custodial banking: the bank takes possession of your assets and is responsible for safekeeping and access control. Custody Without Control This model has a clear tradeoff: you do not control the private keys. In crypto terms, that’s the difference between ownership and permissioned access. When you hand over your keys to a custodian – whether it’s a bank, exchange, or third-party wallet provider you’re placing full trust in them to: Maintain secure infrastructure Abide by transparent policies Avoid political or regulatory pressure In the case of Sberbank, this introduces state-level exposure. Given the close ties between Russian banks and the government, users may be vulnerable to: Asset freezes or account restrictions Arbitrary changes to access rules In short, storing crypto with Sberbank may reduce your sovereignty and security in ways that contradict the original ethos of digital assets. Why This Strengthens the…
The post Russia’s Biggest Bank Plans to Offer Crypto Custody Services appeared on BitcoinEthereumNews.com.
On July 17, 2025, Russia’s largest state-owned lender, Sberbank, announced plans to offer custodial services for digital assets. This marks a significant development in the institutional adoption of crypto in Russia, particularly as the country seeks to expand its domestic digital asset infrastructure. But while this may sound like a leap forward, the move raises an essential question for crypto users worldwide: Is storing your crypto with a bank really progress — or a step backward? Sberbank’s Entry Into Crypto Custody Sberbank currently allows clients to store Russian-issued digital assets – including tokenized securities and other blockchain-based instruments – within its custody framework. These assets are built on Sberbank’s own blockchain platform, and the bank has plans to expand support to a wider range of digital financial tools. According to Sberbank executives, this initiative will help standardize crypto ownership under regulated structures, provide safe storage, and increase institutional trust in digital asset markets. In practice, it resembles traditional custodial banking: the bank takes possession of your assets and is responsible for safekeeping and access control. Custody Without Control This model has a clear tradeoff: you do not control the private keys. In crypto terms, that’s the difference between ownership and permissioned access. When you hand over your keys to a custodian – whether it’s a bank, exchange, or third-party wallet provider you’re placing full trust in them to: Maintain secure infrastructure Abide by transparent policies Avoid political or regulatory pressure In the case of Sberbank, this introduces state-level exposure. Given the close ties between Russian banks and the government, users may be vulnerable to: Asset freezes or account restrictions Arbitrary changes to access rules In short, storing crypto with Sberbank may reduce your sovereignty and security in ways that contradict the original ethos of digital assets. Why This Strengthens the…
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