Sberbank, Russia’s largest bank with a market value of $85 billion, is set to offer custody services for cryptocurrency assets.
By taking this step, Sberbank aligns with Russia’s growing cryptocurrency market, which has gained momentum amid sanctions and increased global interest in digital currencies.
Sberbank Proposal to Central Bank
Sberbank has presented proposals to Russia’s central bank regarding the regulation and custody of cryptocurrencies. Anatoly Pronin, the bank’s executive director of alternative payment solutions, explained that the bank’s plans aim to ensure the safety and regulation of crypto assets in a manner similar to traditional bank accounts.
According to Pronin, the bank would guarantee the protection of digital assets, which would help facilitate transactions and protect users from cybersecurity threats.
The central bank’s stance on cryptocurrencies has softened over the past year, especially after the approval of a law that allows businesses to use digital currencies for international trade. This shift was largely driven by the need to circumvent Western sanctions including Donald Trump’s tariff threats, which have heavily impacted Russia’s financial system since the war in Ukraine.
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Kelvin Munene Murithi
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary .
With a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets.
His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content.
Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape.
Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.
