Russia's Central Bank Gives Sberbank Crypto Exchange License
Major Russian bank gains crypto trading permission
Russia's central bank has added Sberbank to its register of organizations authorized to exchange digital currencies, according to reports from Interfax.
Sberbank, Russia's largest bank, was already added earlier this month to a separate list of digital depositories, which record ownership of cryptocurrencies and digital rights. Now it has also received approval to act as a crypto exchange, joining nine total organizations on the exchange register.
The bank will launch its crypto wallet in December, the same month the Moscow Exchange plans to debut cryptocurrency trading.
Key details on the license
- Sberbank joins eight other firms on the exchange register, including state-controlled VTB Bank and T-Invest Lab, part of T-Technologies.
- Last month, Sberbank became the first bank in Russia approved to custody bitcoin under a "digital currency record-keeping" license.
- Under the new regulatory framework, unqualified investors can buy up to 300,000 rubles (about $3,556) per year in crypto through a single intermediary.
- Qualified investors will have access to all cryptocurrencies traded on exchanges and over-the-counter markets.
What the new Russian crypto law covers
A law on digital currencies and digital rights took effect in Russia on September 1, creating a legal framework for cryptocurrency circulation. Under the law, cryptocurrencies can be bought and sold through crypto exchanges, while ownership rights are recorded in digital depositories.
Banks and other organizations have been able to apply to the Central Bank of Russia (CBR) for licenses since October 5. Some existing players can obtain licenses on a notification basis within one day.
What Sberbank says
Sberbank said the new status will allow the bank to provide services related to organizing the circulation of digital currency on interfaces that clients already use.
What is confirmed
The Central Bank of Russia has added Sberbank to its exchange register. Sberbank previously received a license for bitcoin custody. The September 1 law on digital currencies is in effect. Sberbank plans to debut its crypto wallet in December.
What is still unclear
The source does not specify exactly which cryptocurrencies Sberbank will support beyond bitcoin, nor does it provide details on fees, timelines beyond December, or the full list of the nine organizations on the exchange register.
Why this matters for Russia's crypto market
Russia is building out a regulated crypto infrastructure that allows both professional and retail investors to access digital assets through established financial institutions. Sberbank's entry signals that major Russian banks are moving into crypto services under the new legal framework.
What happens next
Sberbank is set to launch its crypto wallet in December. The Moscow Exchange also plans to begin crypto trading that same month.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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