Russia’s Largest Bank Plans Crypto Wallet Launch as Moscow Clears Market Path

Sberbank plans to launch a cryptocurrency wallet and a digital depository by December, integrating the services into its Sberbank Online and SberInvestments apps. The rollout will follow adoption of Russia’s “On Digital Currency and Digital Rights” bill, according to CoinDesk, citing Kirill Tsarev, first deputy chairman of the bank’s management board. The law is expected to take effect Sept. 1, and would create licenses for crypto trading, custody, digital-to-fiat exchange and cross-border settlements.