Russia’s Sberbank Approved by Central Bank for Crypto Trading Ahead of December Launch
Sberbank, the largest lender in Russia, has obtained approval from the Bank of Russia to conduct cryptocurrency trading including Bitcoin ahead of its planned December 2026 launch. Following new crypto regulations effective from September 1, which enhanced oversight of exchange operators and custodians, Sberbank has already started testing crypto purchase, sale, and deposit functions via its own app.
Approval and Expansion of Authorized Crypto Operators
The updated register by the Bank of Russia dated Tuesday shows an increase in authorized crypto exchange operators and digital custodians, now listing 10 and 6 entities respectively. Among them are major banks such as Sberbank and VTB, alongside nonbank companies like T-Invest Lab and Atomyze. Sberbank was among the first to secure digital custodian status last week.
Crypto Product Launch and Ongoing Testing
Sberbank has announced plans to launch crypto products supporting Bitcoin (BTC), Ether (ETH), and Tether’s USDt (USDT) on December 1, 2026. These offerings will be accessible through its existing platforms: SberBank Online, SberInvestments, and SberBusiness. According to Russian business paper Vedomosti, the bank has already begun testing the purchase, sale, deposit, and withdrawal of cryptocurrencies via its app. The final launch is contingent on further regulations from the central bank.
Why it matters
This news is significant as it reflects the readiness of Russia’s largest bank to officially adopt cryptocurrencies, marking a crucial milestone in developing a regulated crypto industry in the country. The central bank’s approval of Sberbank indicates authorities’ intent to oversee the crypto market and build a legal framework for participants, despite the ban on using cryptocurrencies for payments. It may serve as a signal to other major players about the possibilities of legally integrating crypto assets into their services.
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