Russia’s leading bank has secured the central bank’s endorsement to act as a cryptocurrency exchange. The approval appears in the Bank of Russia’s latest register, which now names ten exchange operators and six custodians, up from four and five a week earlier. Alongside other major lenders such as VTB, non-bank entities like T-Invest Lab and Atomyze also feature on the list.
Planned product rollout
Sberbank intends to introduce trading for three digital assets – Bitcoin, Ether and Tether’s USDt – through its existing online services. The bank plans to make the offering available on Dec. 1, 2026 via the SberBank Online app, the SberInvestments portal and the SberBusiness platform. Internal testing of buying, selling, depositing and withdrawing crypto has already begun, according to a domestic business newspaper.
Conditions and constraints
The launch schedule is tied to additional guidance from the central bank, which introduced new crypto legislation on Sept. 1. The rules place exchange operators and custodians under tighter supervisory control but continue to forbid the use of cryptocurrencies for ordinary payments. Sberbank secured its digital-custodian status shortly before the exchange approval, positioning the institution to manage client assets in compliance with the new framework.
Market context
The expansion of authorized participants reflects a broader shift in Russia’s approach to digital assets. By raising the number of licensed exchanges and custodians, regulators appear to be creating a more structured environment while still limiting the role of crypto in everyday commerce. For Sberbank, entering the market could diversify its service suite and attract a segment of users seeking regulated avenues for crypto exposure.
Why it matters
Sberbank’s entry marks a significant step toward mainstreaming cryptocurrency services within a tightly regulated Russian financial system. The move signals that major banks are ready to engage with digital assets under official oversight, potentially setting a precedent for other institutions. However, the continued prohibition on using crypto for payments and the pending regulatory details suggest that the rollout will be closely monitored, shaping the future of crypto adoption in the country.
