Russia’s largest bank, Sberbank, has announced plans to offer custody services for crypto assets, expanding its footprint in the country’s growing digital finance ecosystem.
Regulatory environment opens the door
The announcement follows recent shifts in Russia’s regulatory stance. The central bank has begun allowing crypto use in cross-border trade as part of a broader effort to reduce reliance on Western systems. Sberbank has proposed treating digital assets similarly to fiat deposits, with full legal protections and robust storage protocols.
Security and compliance at the core
Sberbank plans to act as a regulated custodian, offering protection against hacks and unauthorized access. It will also allow authorities to freeze assets if linked to illegal activity. The model mirrors the security and control typically applied to traditional banking deposits.
Executives say the initiative is designed to give both users and regulators confidence that crypto can be safely integrated into formal financial systems.
Reducing dependency on foreign custodians
Russian analysts have stressed the need to build domestic custody infrastructure. By offering an in-country solution, Sberbank aims to reduce the nation’s exposure to foreign service providers and increase sovereignty over its digital asset markets.
StartUpX sees strategic alignment with tokenization trends
For blockchain projects like XSTP, focused on real-world asset tokenization and Web3 integration, the move by Sberbank represents a key milestone. It signals that even traditional institutions are embracing the need for secure, compliant crypto infrastructure.
As the global custody landscape evolves, platforms like XPay Wallet gain relevance by offering decentralized alternatives ready for regulated environments.
