Sberbank to become market maker for Russia's regulated crypto platforms

Sberbank, Russia's largest bank by assets, is set to become a market maker and liquidity provider for the country's new regulated cryptocurrency platforms. This strategic move is in response to the latest shift in digital asset regulations, aiming to provide a fresh array of investment choices in digital assets for qualified investors.

Alexander Zozulya, Director of the global markets department at Sberbank, announced that the bank will serve as a liquidity provider on these regulated platforms. These platforms are designed to allow highly qualified investors to buy and sell digital tokens, aligning with Russia's goal of introducing clear rules for crypto trading. This initiative is part of a broader effort by Russia to establish a legal framework for cryptocurrency trading, with the Central Bank permitting such activities under a pilot program.

At the Russian Stock Market 2025 conference, Elvira Nabiullina, the head of the Central Bank, emphasized the need for new laws and improved infrastructure for investing in cryptocurrencies. She introduced the concept of an experimental regulatory regime, or sandbox, that will allow only certain qualified investors to participate. This three-year experiment, launched in March, requires investors to meet high qualification standards, including having securities and deposits totaling more than 100 million rubles or earning more than 50 million rubles annually. The Central Bank is working to finalize the rules for this regime with government support.

Sberbank is also planning to launch ETF-like products that will allow investors to participate in cryptocurrencies without acquiring or handling them. These products, similar to exchange-traded funds available in Western markets, will provide exposure to Bitcoin, Ethereum, or other cryptocurrencies based on their market value. Investors can own crypto price movements without owning the actual coins, offering a more accessible way to invest in digital assets. The bank is working rapidly with the Central Bank to offer these products for sale soon, with essential infrastructures almost complete.

In addition to these developments, Russia is prioritizing efforts to address crypto crime. A new law being developed by the Ministry of Justice considers digital assets as any other form of property, allowing law enforcement to seize them in criminal investigations. This move is a sign of Russia's efforts to regulate cryptocurrency efficiently and ensure a secure environment for investors. The Central Bank is also expected to release rules for using derivatives linked to cryptocurrency values, further integrating digital assets into the country's financial ecosystem.

Sberbank's role as a market maker will enable access to cryptocurrencies for a select group of investors, enhancing liquidity and stability in the regulated crypto markets. This development underscores Russia's commitment to exploring the potential of cryptocurrencies while maintaining regulatory oversight to mitigate risks. The bank's involvement is expected to provide a more robust environment for investors, further integrating digital assets into the country's financial ecosystem.