Russia’s largest bank, Sberbank, expects trading volume to reach 4 trillion rubles ($46.43 billion) in the first year of its crypto rollout, with a forecast of 7.5 trillion rubles ($87.06 billion) by 2029. The bank plans to launch a Bitcoin and crypto wallet along with digital asset custody services by December. It also intends to accept Bitcoin and other cryptocurrencies as collateral for loans. President Putin signed a law this month establishing comprehensive regulation of digital currencies and digital rights. However, using crypto as a means of payment remains prohibited in Russia since 2022.
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