Sberbank, 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, according to state news agency TASS.
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, TASS reported Saturday.
The forecast comes as the country's new crypto regulations are set to take effect on Sept. 1.
In early August, Russian President Vladimir Putin signed a landmark law establishing a regulatory framework for the cryptocurrency market.
In a separate Friday TASS report, Popov said the bank plans to issue loans secured by bitcoin, ether and USDT once they are approved by the central bank.
