Sberbank, the largest bank in Russia, is making a significant move into the decentralized finance (DeFi) sector, driven by rapidly growing client demand for cryptocurrencies. According to Anatoly Popov, Vice Chairman of the bank's Management Board, Sberbank is currently testing a range of DeFi products and is actively studying asset tokenization and integration with DeFi platforms.
The bank's approach is notable for its openness to public blockchains, with Ethereum specifically mentioned as a platform of interest due to its mature infrastructure, flexible smart contract capabilities, and potential to facilitate access to international markets while ensuring transparency. This marks a potential shift from private, permissioned networks to the broader public DeFi ecosystem.
Popov cited data from the Russian central bank indicating that the volume of crypto in Russian wallets reached approximately $10.5 billion as of March 2025, underscoring the market's scale. Sberbank, with over 109 million retail clients and a market capitalization of $83 billion, aims to meet this demand through innovative financial tools.
The trend is confirmed by rival bank VTB, whose head of brokerage, Andrey Yatskov, acknowledged high client interest and stated preparations are underway for testing with "superqualified investors." This institutional activity coincides with the Russian central bank's reported plans to develop comprehensive crypto market regulations in 2026, which would cover intermediaries, licenses, and depositories.
