Sberbank, Russia’s largest lender, has begun testing a range of decentralized finance (DeFi) products as demand for cryptocurrency trading and digital asset holdings continues to rise among its clients.
Speaking to Russian media outlet RBC, Anatoly Popov, deputy chair of Sberbank’s management board, said the bank is actively exploring DeFi solutions and asset tokenization while monitoring connectivity with public blockchain networks.
Popov added that Sberbank has shown interest in established public-chain ecosystems such as Ethereum, citing their mature infrastructure and smart-contract capabilities.
“Sberbank is already testing various DeFi products,” Popov said. “We are confident that traditional banking and DeFi will soon converge.”
While Popov did not disclose which DeFi protocols are being evaluated, he emphasized that any expansion into digital assets would be pursued in coordination with regulators.
According to Popov, Sberbank plans to develop its digital asset offerings “in collaboration with regulators,” reflecting a cautious but increasingly open stance toward crypto adoption.
have historically approached cryptocurrencies carefully, but sentiment is shifting as Moscow moves toward formal regulation of the sector.
Authorities are expected to introduce clearer crypto regulations in 2026, a development that has encouraged financial institutions to explore new blockchain-based products.
Sberbank, which has a market capitalization of approximately $83 billion, serves around 109 million retail customers and more than 3 million corporate clients.
The scale of its customer base positions the bank as a key driver of crypto adoption in Russia’s financial system.
Competitive pressure is also intensifying. Earlier this month, state-backed lender VTB, one of Sberbank’s largest rivals, said its clients were increasingly interested in buying “real” cryptocurrencies rather than gaining exposure through derivatives products.
The broader Russian financial sector has also accelerated its engagement with digital assets in 2025. Several major firms have launched crypto-themed funds, bonds, and indices that track the prices of leading cryptocurrencies such as Bitcoin and Ethereum.
In addition, Russian asset managers have introduced products designed to mirror the performance of prominent U.S.-based crypto exchange-traded funds.
Together, these developments point to a growing convergence between traditional finance and decentralized systems within Russia’s regulated financial framework.