Approval Opens New Channel for Retail Crypto Access

Sberbank, Russia’s largest lender by assets, has been added to the official registry of authorized cryptocurrency exchange operators and digital custodians. The Bank of Russia updated its lists on October 13, expanding the number of approved trading platforms to 10 and custody providers to six. The move integrates the bank into the country’s regulated digital-asset framework that took effect on September 1.

Customers will be able to buy, sell, deposit and withdraw Bitcoin, Ether and Tether’s USDT directly through existing SberBank Online, SberInvestments and SberBusiness platforms starting December 1, subject to final rules from the central bank. The institution has already completed internal testing of these operations inside its mobile app.

Regulatory Framework and Current Limits

Russia’s revised cryptocurrency law establishes clear oversight for exchanges, brokers, trustees and custody providers. The new rules focus on investor protection and transaction monitoring while keeping cryptocurrency as a means of payment for goods and services prohibited. Sberbank was among the first entities to obtain digital-custodian status after the September 1 effective date and has since begun offering corporate cross-border settlement services using cryptocurrencies.

The expanded registry includes major state-linked institutions such as Sberbank and VTB, along with nonbank firms like T-Invest Lab and Atomyze. The central bank retains authority to finalize the exact list of cryptocurrencies available to retail clients.

Bank’s Existing Crypto Services in Focus

Earlier in September, Sberbank launched cryptocurrency-based cross-border settlement for corporate customers. The bank’s inclusion on the custodian registry enables secure record-keeping of digital assets and rights. Retail trading services will extend these capabilities to individual clients without requiring separate cryptocurrency exchange accounts.

The announcement aligns with broader institutional adoption of digital assets in Russia. Other major banks and fintech platforms remain under the same regulatory umbrella, creating a structured environment for both trading and custody.

Path Forward for Russian Market

The approvals mark a concrete step toward mainstream integration of cryptocurrencies within Russia’s banking system. Retail users will gain direct access through familiar banking channels, while the central bank maintains close supervision of the sector. The timeline remains flexible pending any additional implementation details from the regulator.

Sberbank’s position as the country’s dominant financial institution positions it to shape how digital assets reach everyday clients in the near term.