Sberbank, Russia’s largest bank, has received approval from the Central Bank of Russia to offer cryptocurrency trading services. The bank is reportedly beginning to test Bitcoin, Ethereum, and USDT transactions within its mobile application.
Sberbank reportedly plans to open cryptocurrency transactions to all its customers starting December 1st. This will allow users to access supported digital assets through the bank’s app without having to send funds to a separate cryptocurrency exchange.
In early October, Sberbank was also added to the list of digital custodians responsible for maintaining records of cryptocurrency assets and digital rights.
The bank stated that the authorizations granted will enable the provision of cryptocurrency services through the banking platforms that customers currently use.
Sberbank has announced plans to launch its first cryptocurrency products on December 1, 2026.
Besides Sberbank, eight other companies are on the list of authorized cryptocurrency trading platforms. These include VTB and T-Bank, two of Russia’s major banks, as well as T-Invest Lab, which operates within the same group.
The law on digital currencies and digital rights, which came into effect in Russia on September 1, 2026, created a comprehensive legal framework for cryptocurrency transactions in the country.
According to the new regulation, cryptocurrency transactions can be carried out through existing exchanges, brokerage firms, and custody service providers. In addition, specially authorized cryptocurrency exchanges and digital custody organizations can also operate.
While digital assets can be bought and sold through cryptocurrency exchanges, digital custody institutions ensure that the rights to these assets are registered.
*This is not investment advice.
