The Bank of Russia has officially listed Sberbank as an authorized crypto exchange operator, enabling the country’s largest lender to purchase and sell digital assets directly using its own f
The Bank of Russia has officially listed Sberbank as an authorized crypto exchange operator, enabling the country’s largest lender to purchase and sell digital assets directly using its own funds. This regulatory move, announced on October 12, follows Sberbank’s addition to the register of digital depositories just six days earlier.
With the latest registration, Sberbank is now permitted to act as both an exchange operator and a digital depository. This dual authorization allows the bank to facilitate trades and maintain client asset records entirely within its own systems, eliminating reliance on third-party platforms.
Sberbank, founded in 1841, is the largest banking and financial services company in Russia, serving over 110 million retail customers and 3.5 million corporate clients. The bank plans to introduce its first digital asset products on December 1 through its integrated apps, which include SberBank Online, SberInvestments, and SberBusiness. The initial offering will feature trading in Bitcoin, Ethereum, and Tether (USDT).
According to Sberbank’s press service, these crypto services will be accessible to clients directly within the bank’s established digital interfaces. The December 1 rollout is contingent on finalized secondary regulations from the central bank, which are still pending.
Russia’s legal environment for digital currencies is evolving. President Vladimir Putin signed a law in August establishing new limits for retail crypto investors. Non-qualified individuals are restricted to spending a maximum of 300,000 rubles, approximately $3,800, per year through any single intermediary. Those wishing to participate must also pass a mandatory knowledge assessment. The current draft list of tradable digital assets is limited to Bitcoin, Ethereum, and USDT.
Despite the expanded access to crypto purchases, it remains illegal to use digital currencies for payments within Russia. As a result, Sberbank clients can buy and hold cryptocurrencies, but cannot use them directly for transactions involving goods or services.
Anatoly Popov, Deputy Chairman of Sberbank’s Management Board, has projected that the Russian crypto trading market could reach 4 trillion rubles, or about $46 billion, in its first year under the new regime. He further expects this figure to climb to 7.5 trillion rubles, roughly $89.7 billion, by 2029. Sberbank also intends to accept Ethereum and USDT, alongside Bitcoin, as collateral for loans once the Bank of Russia authorizes public circulation for these assets.
Deputy Chairman Anatoly Popov has forecast that Russian crypto trading volumes could reach 4 trillion rubles, or about $46 billion, in the first year and approach 7.5 trillion rubles, nearly $89.7 billion, by 2029.
Sberbank’s integration of crypto services represents a notable shift in Russian monetary policy. In January 2022, the Bank of Russia had proposed a ban on crypto use, mining, and exchanges, citing concerns over financial stability. The current approach signals a more regulated and structured entry into the digital asset sector by major financial institutions.
Registered crypto service providers in Russia must comply fully with new regulatory standards by September 1, 2027, as specified by the central bank.
Mini dictionary: Sberbank, founded in 1841, is Russia’s largest lender and a key player in the country’s banking and financial sector, with a vast network of clients and digital services.
Asset Available for Trading? Can be Used for Payments? Investor Limit Bitcoin Yes No 300,000 rubles/year Ethereum Yes No 300,000 rubles/year USDT Yes No 300,000 rubles/yearThe post Sberbank approved to offer Bitcoin, Ethereum, USDT trading to 110.6 million clients appeared first on COINTURK NEWS.
