Sberbank launches cryptocurrency exchange and custody services

Sberbank, Russia's largest bank, is set to begin offering cryptocurrency trading and storage on December 1, 2026, after receiving approval from the Bank of Russia. Bitcoin (BTC), Ethereum (ETH) and Tether's USDT were earlier reported as possible launch assets.

What is happening

The Bank of Russia announced Sberbank's registration as a cryptocurrency exchange operator on October 12, as reported by Interfax. The registration follows the bank's inclusion in the digital depository registry earlier in October. The two registry entries cover different activities: trading and storage of digital assets.

Rather than building a separate product, Sberbank plans to deliver the services through its existing platforms: SberBank Online, SberInvestments and the SberBusiness service for companies. According to earlier statements by First Deputy Chairman Alexander Vedyakhin, the digital depository was to be completed by December. Planned functions include managing property rights and keeping clients' digital wallets to support deposits and withdrawals.

Sberbank is also considering crypto-backed lending, which is a separate initiative from the exchange. Deputy Chairman Anatoly Popov said in August that the bank was weighing BTC, ETH and USDT as loan collateral, pending regulatory approval. In December 2025, Sberbank issued a loan to the data analytics firm Intelion Data secured by Bitcoin.

Why it matters

Sberbank's entry brings a major banking brand into Russia's licensed crypto market. As of October 12, nine exchange operators and five digital depositories were registered. Access through familiar banking apps could make regulated crypto services more visible to Russian users, though retail participation remains restricted: non-accredited investors may invest up to 300,000 rubles per year in eligible digital currencies through a broker, testing requirements apply, and qualified investors are not subject to that limit. Some registered entities have until September 1, 2027, to meet all requirements under a transitional regime.

Traders and holders should also note the wider context. Moscow Exchange has announced plans to begin cryptocurrency transactions on December 1 as well. Sberbank has been under U.S. blocking sanctions since 2022, and most U.S. persons are prohibited from financial transactions with it without a license. Russia allows cryptocurrencies for cross-border payments under central bank supervision but opposes their use for buying goods and services domestically.

Key details

• Date: December 1, 2026
• Project: Sberbank
• Coins: BTC, ETH, USDT (earlier reported as possible launch assets)
• Category: Product Release
• Status: Confirmed
• Source: bitcoinfoundation.org, "Russia's Crypto Market Shake-Up: Sberbank Wins Approval Ahead of December 1 Launch"