Sberbank wins crypto trading approval ahead of December launch — SkimNews
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- Sberbank, Russia's largest lender, secured central bank approval to trade cryptocurrencies ahead of a planned Dec. 1, 2026 launch, initially supporting Bitcoin, Ether, and Tether's USDt.
- Bank of Russia updated its register Tuesday to list 10 authorized crypto exchange operators and 6 digital custodians, up from 4 and 5 a week earlier, adding Sberbank and VTB alongside nonbank firms including T-Invest Lab and Atomyze.
- Sberbank has begun testing crypto purchases, sales, deposits, and withdrawals through its SberBank Online app, Vedomosti reported Thursday, with the final launch dependent on additional central bank regulations.
- Sberbank plans to offer crypto products through its existing SberBank Online, SberInvestments, and SberBusiness platforms.
- The approvals follow the Sept. 1 entry into force of Russia's new crypto rules, which placed exchange operators and custodians under central bank oversight.
- Russia still prohibits using cryptocurrencies to pay for goods and services, even as it authorizes institutional trading.
Why it matters: Sberbank entering crypto trading gives Russia's 100+ million bank customers direct access to BTC, ETH, and USDt — but only as investment assets, since Russia still bars crypto payments for goods and services. The regulator doubling its approved exchange roster in a week shows Moscow is rapidly converting its September crypto framework into operational infrastructure before year-end.
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