Largest Bank in Russia Licensed for Crypto Trading

The largest bank in Russia has been licensed for crypto trading. Photo: Crypto Economy

Sberbank, the largest bank in Russia, has been approved by the Central Bank to conduct cryptocurrency transactions, paving the way for Bitcoin (BTC), Ethereum (ETH), and stablecoin USDT to be available on the banking app starting from December 1, 2026.

Interfax confirmed that Sberbank has been added to the list of organizations authorized to trade crypto. Earlier in October, the bank was also included in the list of digital asset custodians, responsible for recording ownership rights and transferring assets.

Sberbank is currently testing transactions of these three assets along with several other major tokens directly on the app, and even intends to accept them as collateral.

However, the official list of cryptocurrencies permitted for trading is still determined by the Central Bank of Russia. Previously, the agency proposed to include BTC, ETH, and USDT in the group of assets that can be traded on licensed platforms.

Sberbank will implement the service on the platforms that customers are already using, without needing to switch to a separate app. The bank plans to launch its first crypto products on December 1.

The licensing of Sberbank is part of Russia's effort to establish a legal framework for the cryptocurrency market. The crypto law and digital asset rights came into effect on September 1, 2026, allowing banks, brokers, and specialized organizations to participate in the market under regulatory supervision.

The Central Bank of Russia stipulates that organizations trading cryptocurrencies are allowed to buy and sell assets using their own capital outside of centralized exchanges. Custodians are responsible for recording ownership rights and facilitating asset transfers. Approval in both areas allows Sberbank to establish a basis for providing crypto buying, selling, and management services within the same system.

As of October 12, the list of organizations permitted to trade cryptocurrencies in Russia includes a total of 9 entities, including Sberbank, VTB, and T-Invest Lab. The list of custodians names 5 entities.

VTB plans to open trading for a wide range of investors through the VTB My Investments platform in November, followed by launching on its own exchange a month later. The Moscow Exchange (MOEX) also plans to start crypto trading on December 1. This entity is currently testing the system with professional investors before launching the service.

Russia has also imposed certain limits on investors starting from September 1. Accordingly, non-professional investors must pass a knowledge test and can only purchase eligible cryptocurrencies with a total limit of 300,000 rubles per year through an intermediary organization. Professional investors can trade with a higher limit but still must meet testing requirements.

Conversely, Russia continues to prohibit cryptocurrencies in domestic goods and services payments. However, import and export businesses are allowed to use crypto for cross-border payment transactions.

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