Sberbank

Sberbank, Russia’s largest bank, plans to launch a cryptocurrency wallet and digital depository by December 2024 following the enactment of new crypto legislation. Kirill Tsarev of Sberbank and Vladimir Chistyukhin of the Central Bank confirmed the timeline, with the law expected to take effect on September 1, 2024.

Sberbank CEO Herman Gref stated the economy has been 'overcooled' and called for a reduction in interest rates. He reiterated this position in a statement on Tuesday.

A.P. IT Minister Lokesh visited 'School 21' in Moscow, a tuition-free initiative launched by Sberbank. He also toured SberCity to explore its research, innovation, and technological ecosystem.

Russian banks will be allowed to carry weapons under a new law to defend against Ukrainian drone attacks. The measure applies to staff at the country's central bank and Sberbank.

Tsinghua University in China has awarded Russian banker German Gref, CEO of Sberbank, the title of distinguished visiting professor despite his US sanctions status. The honor follows a recent partnership agreement between Sberbank and the university focused on innovative development.

Sberbank plans to offer crypto trading services once Russian regulations and exchange trading frameworks are established. The Bank of Russia classifies cryptocurrencies as high-risk, but a proposed 2025 regulation allows qualified and non-qualified investors to trade digital assets, with domestic payments still prohibited. A crypto legislation bill passed its first reading in Russia’s State Duma, aiming to establish a licensed intermediary system for digital currencies by July 2026.