Sberbank, Russia’s largest lender, has secured approval from the Bank of Russia to trade cryptocurrencies, including Bitcoin, ahead of a planned December launch. The central bank’s updated register, dated Tuesday, lists 10 authorized crypto exchange operators and six digital custodians, up from four and five, respectively, a week earlier. This expansion includes major lenders Sberbank and VTB alongside nonbank companies such as T-Invest Lab and Atomyze.
Sberbank previously stated it plans to launch crypto products supporting Bitcoin (BTC), Ether (ETH) and Tether’s USDt (USDT) on Dec. 1, 2026, through its existing SberBank Online, SberInvestments and SberBusiness platforms. According to Russian business newspaper Vedomosti, citing the bank’s press office, Sberbank has already begun testing crypto purchases, sales, deposits and withdrawals through its SberBank Online app. The bank noted that the final launch timeline depends on additional central bank regulations.
These registrations follow the Sept. 1 entry into force of Russia’s new crypto rules, which placed exchange operators and custodians under central bank oversight. Despite this regulatory framework for trading and custody, the country still prohibits using cryptocurrencies to pay for goods and services.
The inclusion of Sberbank in the Bank of Russia’s authorized operator list marks a decisive shift toward institutionalizing cryptocurrency access within the country’s traditional financial infrastructure. By leveraging its massive existing user base across SberBank Online and other platforms, Sberbank is positioned to bring regulated crypto trading to millions of retail and corporate clients who previously lacked direct access. This move signals that the central bank is willing to integrate digital assets into the mainstream banking sector while maintaining strict oversight over custody and exchange operations.
However, the reliance on further regulatory details for the final launch timeline introduces operational uncertainty. While the legal framework permits trading and custody, the continued prohibition on using cryptocurrencies for payments limits their utility to speculative or investment vehicles rather than transactional tools. Market participants should monitor how quickly the remaining regulatory gaps are closed, as delays could impact the anticipated December 1 start date and affect the broader adoption pace among Russian consumers.
