Russia's largest bank forecasts $46 billion in first-year crypto exchange trading under new rulesSberbank, Russia's largest lender, said the country's regulated crypto trading volume on exchanges may reach 4 trillion rubles ($46.4 billion) in the first year after crypto laws take effect on Sept. 1.
Anatoly Popov, Sberbank's deputy chairman, said that such crypto trading volume could grow to roughly 7.5 trillion rubles ($87.1 billion) by 2029.
Popov said the bank plans to issue loans secured by bitcoin, ether and USDT once they are approved by the central bank."We prepared for this in advance, and we already have practical experience working with cryptocurrency. As soon as the law comes into full force, we will adapt Sber’s existing products to the new requirements and begin consistently expanding their lineup," — said Popov.
"We will be able to expand the list immediately after all provisions of the new regulation come into force."
The bank reportedly plans to launch a crypto wallet in its Sber and Sber Investments apps alongside a digital asset depository by early December.
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