Sberbank, Russia’s largest bank, has received approval from the Bank of Russia to offer cryptocurrency trading and custody services, according to the central bank’s cryptocurrency exchange provider register. The approval, announced on October 13, 2026, positions Sberbank as the ninth organization on the regulated exchange register alongside VTB and T-Invest Lab.
The move advances Moscow’s effort to bring crypto trading into its regulated financial system following the September 1, 2026 effective date of a law creating a structured digital asset market. The framework permits banks, brokers, exchanges, and digital depositories to participate under central bank oversight.
Sberbank had already joined the digital depository register earlier in October 2026, giving it authority to record clients’ cryptocurrency holdings. The trading approval now allows the bank to execute buy and sell orders for customers.
Testing and Launch Timeline
Sberbank is already testing trades in BTC, ETH, USDT and other major tokens in its app, according to a statement the bank provided to Vedomosti. “The bank is already testing trades in BTC, ETH, USDT and other major tokens in its app, though the central bank will set the final list of permitted coins,” Sberbank said.
The bank plans to open crypto trading to all clients on December 1, 2026. Sberbank intends to debut products through interfaces customers already use, leveraging its existing mobile and web platforms rather than building separate crypto-specific applications.
Sberbank began working on a crypto wallet earlier in 2026 as part of its broader digital asset strategy. The bank has not announced a launch date for the wallet.
Regulatory Framework and Restrictions
The regulated market structure distinguishes between different participant roles. Registered crypto dealers can buy and sell cryptocurrencies using their own funds outside organized exchanges. Digital depositories, including Sberbank, record ownership and transfers of digital assets held by clients.
Beginning July 2027, all crypto transactions must route through registered intermediaries, establishing a mandatory gatekeeping requirement for the market. Domestic cryptocurrency payments remain prohibited under Russian law, limiting use cases to investment and trading activity.
The Bank of Russia will determine which cryptocurrencies Sberbank and other providers may offer to clients. Sberbank’s testing phase will inform the central bank’s final approval of the token list.
Shift From Earlier Policy
The approval represents a marked reversal from the central bank’s 2022 position, when it had proposed banning domestic crypto exchanges entirely. The new regulatory framework instead creates formal channels for banks to participate in digital asset markets under state supervision.
