Sberbank, Russia’s largest bank, has been officially registered as a crypto exchange operator by the Bank of Russia, enabling it to offer crypto trading services within the country. The decision was published on October 12, placing Sberbank among the approved institutions allowed to operate under Russia’s evolving digital assets framework.
Central bank registration and digital depository status
The Bank of Russia has created two primary registrations for organizations involved in cryptocurrency: crypto exchange operators and digital depositories. Earlier in October, Sberbank was also listed as one of the first digital depositories, institutions that maintain records of digital rights and cryptocurrency holdings. This dual registration positions Sberbank to play a leading role in Russia’s nascent digital asset market.
In addition to Sberbank, the central bank’s registry includes several other Russian financial firms, such as VTB, Atomyze, and TT LLC. According to Interfax, there are currently nine entities accredited to act as crypto exchange operators, with Paradise Technology and TT LLC being among the most recent additions.
Mini dictionary: Sberbank – Sberbank is Russia’s largest state-owned bank and a leading financial institution in the region, with extensive retail and corporate banking services.
New crypto regulations in Russia
The updated framework for digital assets in Russia came into effect on September 1, setting out licensing and operational requirements for crypto market participants. The law distinguishes between exchange operators, which directly buy and sell digital currencies, and depositories that track and register crypto ownership.
As part of the new regime, retail investors who have not obtained qualified status can purchase only bitcoin, ether, and USDT, with annual transaction caps set at 300,000 rubles per intermediary. Qualified investors are not subject to these limits. All registered organizations have until September 1, 2027, to comply fully with the regulatory requirements introduced by the central bank.
| Investor Type | Allowed Cryptocurrencies | Annual Limit |
|---|---|---|
| Retail (non-qualified) | Bitcoin, Ether, USDT | 300,000 rubles per intermediary |
| Qualified | All approved assets | No cap |
Market expansion and future plans
Sberbank plans to introduce its first crypto products on December 1, with a focus on integrating digital currency services into existing client platforms. The bank aims to leverage its extensive customer base by offering digital asset trading and custody through familiar channels.
Meanwhile, VTB, another major Russian financial institution, indicated that it will enable retail crypto trading through its VTB My Investments app in November and intends to launch its own crypto exchange by December. Other organizations, including T-Invest Lab (a subsidiary of T-Technologies responsible for T-Bank) and Zefir, are also among the initial participants.
“This status will allow the bank to provide services related to organizing the circulation of digital currency on interfaces which clients already use,” stated Sberbank, underscoring its intent to streamline crypto access for its customers.
Applications for inclusion in the central bank’s registry opened on October 5, with some established financial institutions able to obtain registration through a streamlined notification process. The Bank of Russia began considering this system in March, proposing that approved banks and brokers could launch crypto exchanges using their existing licenses to simplify regulatory oversight.
