In Russia’s crypto story the main character role just landed squarely on Sberbank’s very traditional, very regulated shoulders.
Russia’s largest bank has started testing decentralized finance products and is gearing up to roll out digital asset services, according to deputy chair Anatoly Popov in an interview with Russian outlet RBC.
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Sberbank is experimenting with DeFi
The plan is simple, work “in collaboration with regulators” and carefully crack open the door between old-school banking and the DeFi underworld.
Popov says he’s convinced traditional banking and DeFi will converge in Russia, sooner rather than later.
The exact protocols Sberbank is experimenting with remain under wraps, which gives the whole thing the energy of a stealth beta test run by people in expensive suits.
This shift tracks with the wider crypto boom in Russia. Local firms have already launched crypto-themed funds, bonds, and indices pegged to Bitcoin and Ethereum.
VTB, another major bank, recently said its clients increasingly favor “real” crypto over derivatives, like someone discovering they prefer espresso shots to instant coffee.
There’s just one small dragon in the cave, the regulation. Banks are still waiting for Vladimir Putin’s administration to approve direct crypto purchases and sales through banking apps. Until then, everyone is circling the treasure and taking notes.
Russian custodians
Sberbank is deep in talks with the Bank of Russia and Rosfinmonitoring about how to build the crypto infrastructure, which technologies to use, how to secure it, and how to protect investors.
Popov expects new rules for qualified investors to open a channel for digital assets trading through existing banking rails.
Familiar interfaces, Russian custodians, regulated venues: comfort food for cautious money.
Despite Russia ranking third globally in Bitcoin mining and crypto usage rising fast, Popov says Sberbank will only fully enter the regulated crypto market once the rules are crystal clear and the economics make sense.
The Central Bank of Russia estimates citizens already hold around 827 billion rubles worth of cryptocurrencies in local wallets, so the pressure is very real.
Fair to say, Sberbank isn’t arriving empty-handed either. It already offers crypto-adjacent products, like structured bonds and CFA-format instruments that let private investors gain exposure to Bitcoin and Ethereum, either individually or as ready-made bundles.
The total volume of these products has reached 1.5 billion rubles.
Does the country’s biggest bank emerge as a DeFi champion
Popov insists Sberbank is focused on liquidity, hedging, and new business models within a regulated perimeter, and does not treat digital assets as pure speculation fodder.
The bank aims to serve two tribes at once, those who already own crypto and want to reduce operational risk, and those cautiously crafting their first digital asset strategy.
So, Sberbank has crossed the threshold into the DeFi maze. The road ahead is guarded by Russian regulators, economic spreadsheets, and a nation already neck-deep in crypto.
The only real question is that when the rules finally land, does the country’s biggest bank emerge as a DeFi champion, or as the bureaucratic boss monster at the end of the level?
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Cryptocurrency and Web3 expert, founder of Kriptoworld
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With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
📅 Published: December 17, 2025 • 🕓 Last updated: December 17, 2025
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