Sberbank Forecasts $46B in Russian Crypto Trading Volume

Sberbank, Russia’s largest bank, expects the country’s crypto exchange trading volume to reach 4 trillion rubles—roughly $46.4 billion—in the first year after new legislation takes effect on September 1.

Sberbank’s growth outlook

Deputy chairman Anatoly Popov told state news agency TASS that volume could grow to approximately 7.5 trillion rubles ($87.1 billion) by 2029.

Popov also said Sberbank plans to issue loans secured by bitcoin, ether, and USDT once they receive central bank approval.

In a statement reported by TASS, he said:

“We prepared for this in advance, and we already have practical experience working with cryptocurrency. As soon as the law comes into full force, we will adapt Sber’s existing products to the new requirements and begin consistently expanding their lineup.”

The bank has reportedly been providing qualified investors with structured bonds and digital financial assets tied to bitcoin and ether since 2025. It also plans to launch a crypto wallet in its Sber and Sber Investments apps alongside a digital asset depository by early December.

What the new law allows

Russian President Vladimir Putin signed the landmark crypto law in early August, creating a regulatory framework for the market.

Under the rules, retail investors can buy the most liquid cryptocurrencies up to a cap of 300,000 rubles (about $3,700) per year per intermediary.

Qualified investors face no purchase limits.

Payments still banned domestically

The law continues to ban the use of cryptocurrencies for paying for goods and services within Russia.

However, cross-border settlements are permitted for foreign trade contracts between residents and non-residents.