Russia’s Sberbank Sees $46 Billion in Crypto Trading Volume
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Written by
Simonas Brazionis - Updated 2026-08-31 20:53:44
Russia's Sberbank sees $46 billion in projected cryptocurrency trading volumes within the first year of new digital asset regulations. The bank anticipates this figure, approximately 4 trillion rubles, will rise to about 7.5 trillion rubles ($87 billion) by 2029, and is also preparing to expand its crypto-backed lending services.
These developments coincide with Russia's new crypto law, effective September 1, which establishes guidelines for crypto trading, custody, and cross-border transactions while prohibiting crypto for domestic payments.
Regulatory Framework and Approved Cryptocurrencies
The Bank of Russia has released a preliminary list of approved cryptocurrencies for public trading, including Bitcoin, Ethereum, and USDT. These assets were chosen based on criteria such as market capitalization, trading volume, and a minimum of five years of price history. Other tokens like XRP were not included.
Sberbank intends to broaden its crypto-backed lending offerings to include Ethereum and Tether‘s USDT as collateral, in addition to Bitcoin. This expansion is contingent upon the Central Bank's permission for these assets to be in public circulation. The institution has prior experience, having conducted a Bitcoin-backed loan pilot with Intelion in December 2025.
Projected Growth and Lending Expansion
Sberbank's deputy chairman indicated that the projected trading volumes are conservative, acknowledging that a significant portion of transactions will likely occur through crypto exchange services outside formal trading. He also noted that the market's full maturation would extend beyond the first year, as professional participants have until July 1, 2027, to secure necessary licenses.
The move into crypto-backed lending addresses a clear demand in a high-interest-rate environment, with Russia's key interest rate at 14%. Pledging cryptocurrencies for credit allows entities like crypto miners to retain potential upside from their holdings. Sberbank has not yet disclosed specifics regarding loan-to-value ratios, interest rates, or a definitive launch date for these expanded services, as these details depend on regulatory approvals.
