Russia clears Sberbank for crypto trading ahead of December launch

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Russia’s central bank has approved Sberbank, the country’s largest lender, to trade cryptocurrencies ahead of a planned launch on 1 December.

The regulator’s updated register now lists 10 authorised crypto exchange operators and six digital custodians, including Sberbank and VTB. A week earlier, the lists contained four exchange operators and five custodians.

Sberbank plans to offer Bitcoin, Ether and Tether’s USDt through its SberBank Online, SberInvestments and SberBusiness platforms. It has started testing crypto purchases, sales, deposits and withdrawals, but the launch timeline depends on further central bank regulations.

Russia’s new crypto rules took effect on 1 September, bringing exchanges and custodians under central bank oversight. Crypto payments for goods and services remain prohibited.