Hardware wallet sales in Russia more than double as new crypto rules near
Hardware wallet sales in Russia have surged significantly as retailers report double-digit growth in demand ahead of new national cryptocurrency regulations. The increase in self-custody device purchases comes as the Russian government prepares to implement a stricter framework for digital asset transactions by September.
Why it matters
The trend suggests that Russian investors are proactively seeking self-custody solutions to maintain control over their assets as the state moves to centralize and regulate the domestic crypto market.
Retailer M.Video said unit sales on its marketplace rose 107% in the second quarter from the first quarter, while sales by value increased 92%. The retailer did not disclose the number of devices sold.
Wildberries, another Russian retailer, also recorded higher demand. Unit sales rose 84% in the first half from a year earlier, RIA Novosti reported , citing RWB, the marketplace’s parent company. Sales value increased 60% over the period.
The comparisons cover different periods: M.Video measured Q2 against Q1, while Wildberries compared H1 with the same period of 2025. Neither company released unit totals.
Hardware wallets keep the private keys needed to control crypto on a dedicated device, instead of an internet-connected service, helping reduce exposure risk.
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