Sberbank is collaborating with the Russian government to develop regulations for stablecoins and cryptocurrencies, aiming to legalize crypto circulation and foster ecosystem growth based on proven business cases.

Since the Central Bank of Russia approved crypto derivatives in May, Sberbank, the country's largest bank, has launched various crypto-based financial products, including tracker bonds, capital-protected bonds, and digital financial assets linked to Bitcoin, Ethereum, and a basket of tokens like SOL, TRX, AVAX, and BNB.

Reflecting high investor demand, Sberbank has sold over a billion rubles (approximately $16 million) worth of these crypto derivatives across nine issues, with strong interest particularly among retail investors.

The bank's diverse offerings include structured bonds and digital assets, demonstrating its commitment to integrating cryptocurrencies into its financial services.

Looking ahead, Sberbank envisions a future where decentralized finance (DeFi) and traditional banking converge, and is actively testing DeFi instruments while developing smart contract applications for banking and payments.

Currently, crypto derivatives offered by the Central Bank are limited to 'highly qualified' investors, but Sberbank advocates for a cautious, gradual expansion to include a broader investor base.

Vedyakhin, First Deputy Chairman of Sberbank, emphasizes the importance of a cautious approach to broadening access, supporting gradual development over immediate inclusion of all investor categories.

Sberbank plans to diversify its crypto offerings further by exploring the tokenization of real-world assets such as real estate, gold, and commodities on its proprietary blockchain platform.

The bank is also exploring the integration of DeFi instruments and the tokenization of assets to enhance investment options and reduce risks.

The Bank of Russia is working on a comprehensive crypto regulation framework expected by 2026, which could facilitate broader bank operations with digital assets.