Russia's Sberbank Gets Approval to Offer Crypto Trading to All Clients by December
Sberbank Approved for Crypto Exchange
The Bank of Russia has added Sberbank, the country's largest bank, to its official register of cryptocurrency exchange providers. The bank had already joined the digital depository register earlier in October, which allows it to record clients' crypto holdings. With both registrations, Sberbank can now offer both buying and selling crypto and keeping crypto safe on the bank's books.
Sberbank plans to open these services to all its customers on December 1 through the same app interfaces its customers already use. The bank is already testing trades in Bitcoin, Ethereum, and USDT (a stablecoin pegged to the U.S. dollar) in its app, though the central bank will decide the final list of permitted coins.
Key Details
- Sberbank is one of nine organizations now listed on the Bank of Russia's crypto exchange register, alongside firms like VTB and T-Invest Lab.
- The bank had earlier joined the digital depository register, which lets banks record ownership and transfers of crypto assets.
- The bank began building crypto trading infrastructure this year and also started work on a crypto wallet earlier in 2026.
A Shift From an Earlier Ban Proposal
Back in 2022, the Bank of Russia proposed banning domestic crypto exchanges and stopping Russian financial intermediaries from handling cryptocurrencies at all. Instead, a law that took effect on September 1 created a regulated market involving banks, brokers, exchanges, and digital depositories.
Under that framework, registered crypto dealers can buy and sell crypto using their own funds outside organized exchanges, while registered depositories record ownership and transfers. Sberbank now holds both registrations, giving it a path to offer trading and custody-related services to its customer base.
Restrictions Still in Place
The approval comes with meaningful limits. Domestic crypto payments remain prohibited. And from July 2027, all crypto transactions must go through registered intermediaries, which would effectively block peer-to-peer transactions settled through Russian bank accounts.
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.