Russia's largest lender, Sberbank, is preparing to offer custody services for cryptocurrency assets, providing security and safeguards against hacking. The bank has proposed treating Bitcoin and digital assets like traditional bank accounts to Russia's central bank.

These proposals include measures to freeze assets if law enforcement suspects illegal activity.

The central bank has eased its stance, supporting digital assets for international trade to bypass Western sanctions over the Ukraine conflict. Sberbank's executive director highlighted the growing global trend of banks offering custody services and expressed a desire for Russia to keep pace.

In addition to custody, Sberbank has launched Bitcoin-linked structured bonds and plans to roll out Bitcoin futures and similar investment products on the Moscow Exchange.

Industry experts emphasise that establishing local custody services is vital to reduce reliance on foreign companies and strengthen the security of Russia's crypto market.