Russia Approves Sberbank for Crypto Trading Ahead of December Launch

Sberbank Secures Crypto Exchange Authorization, Eyes December Launch

Russia’s largest bank, Sberbank, has obtained authorization to operate as a cryptocurrency exchange, signaling its readiness to offer trading in Bitcoin, Ether, and Tether USDt. The move comes as the financial institution prepares for a planned launch in December.

The Bank of Russia’s updated registry, updated on Tuesday, now lists 10 authorized crypto exchange operators and six digital custodians, an increase from four and five, respectively, just a week prior. Prominent financial institutions such as Sberbank and VTB are included on these lists, alongside non-banking entities like T-Invest Lab and Atomyze.

Sberbank has previously announced its intention to introduce crypto products supporting Bitcoin (BTC), Ether (ETH), and Tether’s USDt (USDT) on December 1, 2026. These offerings are slated to be accessible through its existing SberBank Online, SberInvestments, and SberBusiness platforms.

According to a report by Russian business newspaper Vedomosti on Thursday, citing the bank’s press office, Sberbank has already commenced testing cryptocurrency transactions, including purchases, sales, deposits, and withdrawals, via its SberBank Online application. The bank has indicated that the definitive launch schedule is contingent upon further regulations from the central bank.

These registrations follow the implementation of Russia’s new cryptocurrency regulations on September 1, which brought exchange operators and custodians under the purview of the central bank. It is important to note that the country continues to prohibit the use of cryptocurrencies for the payment of goods and services.

Sberbank was among the initial companies to secure digital custodian status last Tuesday.