Sberbank, the largest lender in Russia, has received approval from the country’s central bank to begin trading cryptocurrencies, including Bitcoin, in advance of its expected market launch this December.
Central bank expands approval for crypto traders
The Bank of Russia’s most recent update to its official registry, published Tuesday, now lists 10 authorized cryptocurrency exchange operators and six licensed digital custodians. These figures are up from four operators and five custodians in the previous week, signaling accelerated regulatory activity in the sector.
Among the institutions granted approval are notable financial players including Sberbank and VTB, as well as nonbank companies such as T-Invest Lab and Atomyze. This expanded list highlights growing institutional interest and regulatory oversight in the Russian cryptocurrency market.
Sberbank prepares new crypto products
Sberbank has stated that it plans to introduce cryptocurrency products supporting Bitcoin (BTC), Ether (ETH), and Tether’s USDt (USDT) on December 1, 2026. These products will be offered through Sberbank’s digital platforms: SberBank Online, SberInvestments, and SberBusiness.
Testing of crypto-related features is already underway within the SberBank Online app, where users can make purchases, sales, deposits, and withdrawals involving digital assets. According to Vedomosti, which cited Sberbank’s press office, the official launch timeline for these services could be adjusted based on any forthcoming central bank regulations.
Sberbank has already started piloting cryptocurrency purchases, sales, deposits, and withdrawals through its SberBank Online application. The final timing for the full launch will depend on additional regulations introduced by the central bank.
Regulatory environment and ongoing restrictions
These approvals have been issued in the wake of Russia’s revised cryptocurrency regulations, which came into effect on September 1. The new legal framework assigns oversight responsibilities to the Bank of Russia for both exchange operators and custodians, further formalizing the market’s structure.
Despite these regulatory advancements, the use of cryptocurrency as a method of payment for goods and services remains prohibited under Russian law. The updated framework focuses primarily on improving investor protection and monitoring of crypto transactions.
Sberbank was among the first to obtain digital custodian status following the expansion of the central bank’s registry last week, further solidifying its position at the forefront of Russia’s institutional crypto adoption.
Given the pace of recent approvals and ongoing regulatory developments, observers are closely monitoring the potential impact on both institutional and retail access to digital assets within the country.
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