Russia’s Sberbank Wants to Hold Your Crypto Like a Regular Bank Account

Sberbank, Russia’s largest state-owned bank, wants to officially step into crypto by offering custody services for digital assets. This comes as the country softens its stance on crypto use at home, especially as traditional financial channels get squeezed by international sanctions. The bank is hoping to take on a bigger role in storing Bitcoin and other tokens for Russian customers, instead of leaving that job to foreign players.

Building a Digital Vault

Sberbank has sent a detailed proposal to regulators asking for permission to act as a custodian for crypto. That means it could legally hold customer digital assets the same way it holds cash and securities. The plan outlines how Sberbank would protect client holdings, offer legal safeguards, and provide support in case of theft or criminal activity. It’s part of a push to bring crypto services under formal banking rules, with added control and accountability.

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