Sberbank Launches Cross‑Border Crypto Payments as Alternative to SWIFT

Introduction Sberbank, Russia’s biggest bank, unveiled a new crypto payment service at the 2026 East Economic Forum, enabling cross‑border transactions using digital currencies.
Service Features According to Vice‑Chairman Alexander Vedyakhin, the service has no minimum payment threshold, charges an average fee of 0.3%, and settles transactions between crypto wallets within minutes.
The platform allows international businesses to make cross‑border payments directly or through intermediaries using any wallet or cryptocurrency, offering faster and cheaper transfers than traditional SWIFT.
Legal Framework The “Crypto‑Currency and Digital Rights Law” entered into force on September 1, providing comprehensive regulation for the purchase, sale, exchange, and settlement of digital assets.
It permits import and export companies to transact in crypto without restrictions.
Impact and Future Vedyakhin highlighted that using crypto for international payments speeds up Russian import and export operations and opens access to new markets.
The system is cheaper than SWIFT, independent of U.S.
banks, and eliminates long processing times, reducing default risk and Western interference.
Expanding Ecosystem Following Sberbank, other major Russian financial institutions—PSB Group, A7, T‑Bank, Alfa‑Bank, and MTS Fintech—are preparing to launch crypto payment services under the new regulations.
The growing popularity of crypto payments in the EU, U.K., Hong Kong, UAE, Iran, Japan, and Turkey presents new opportunities for Russian businesses.
This development diversifies Russia’s financial infrastructure and provides a faster, lower‑cost payment option in international trade, boosting its global competitiveness.