The cryptocurrency market in Russia is preparing to operate in a regulated format: the largest banks are already building infrastructure for digital asset operations, and the potential volume of the new sector is estimated at tens of billions of rubles.
Banks Prepare Services for Cryptocurrency Trading
First Deputy Chairman of the Board of VTB Dmitry Pyanov said that several leading Russian banks have begun creating the foundation for legal cryptocurrency trading. This is not about separate services, but about a full-fledged ecosystem where clients will be able to buy, sell, store, and account for digital assets.
The relevant law is set to take effect on September 1. Other regulatory documents that will clarify the rules for the new segment are expected by the end of the year.
According to Dmitry Pyanov, the decisive advantage for banks will be not only the speed of product launches but also convenience for clients.
Whoever offers the best client experience the fastest will be able to claim a significant share of the market, primarily commission income.
The Sector’s Potential Is Measured in Tens of Billions
Dmitry Pyanov estimated the possible scale of the new banking business at several tens of billions of rubles. At the same time, according to Deputy Finance Minister Ivan Chebeskov, the daily turnover of cryptocurrencies in Russia already reaches 50 billion rubles. Such turnover shows that Russian investors’ interest in cryptocurrencies is already noticeable, and banks expect to move part of the demand into the regulated space.
For financial market participants, this sector could become a significant source of commission income. Investment in infrastructure is now a priority: banks will need to create technological and legal mechanisms for the safe handling of digital assets.
- Bitcoin: one of the instruments for which banks will need to provide purchase, sale, storage, and accounting operations.
- Litecoin: a crypto asset from the same future set of services.
- Other digital assets: tokens and instruments that require technological and legal mechanisms.
Cryptocurrency remains a volatile asset class. Its price and market capitalization are most strongly influenced by several factors:
- Supply and demand in the market.
- News about major projects and exchanges.
- Technological updates and trends.
- Regulation in Russia and abroad.
- The macroeconomic situation.
Market capitalization shows the total value of a cryptocurrency on the market: the higher the figure, the larger the asset and the more significant its weight for market participants. It is possible to make money in such a market, but no one guarantees a stable $100 per day: profitability depends on capital, strategy, commissions, sharp price movements, and the investor’s willingness to accept risk. The United States of America continues to have a significant influence on the global market, where the discussion of digital assets has long been tied not only to token trading but also to the development of NFTs, fintech services, and solutions based on artificial intelligence.
VTB Wants to Be Among the First Players
VTB expects to be one of the first to offer clients operations with crypto instruments within a secure Russian framework. The bank is betting on the VTB My Investments platform and the creation of a digital depository—one of the most complex elements of the future ecosystem.
We have significant ambitions, both within the VTB My Investments platform and in building the most resource-intensive and complex component of this new ecosystem—a digital depository. Therefore, we intend to obtain all the necessary licenses among the first.
The bank is already included in the register of information system operators that issue digital financial assets. The next step is to launch its own digital depository.
According to VTB’s forecast, the full operation of the regulated crypto market will begin in 2027, when the key provisions of the law, including intermediary licensing rules, come into force. In 2026, banks do not expect a significant financial effect and will focus on investments in future infrastructure.
This year, banks will still be investing in projects to form such infrastructure.
