Sberbank crypto trading cleared in Russia, target launch Dec 1

Bank of Russia lists Sberbank as an exchange operator and depository; retail buyers face annual caps and crypto payments remain illegal.

Sberbank crypto trading was cleared on October 12 when the Bank of Russia added the lender to its register of organizations authorized to exchange digital currencies, the report says. Interfax reported the decision was posted on the regulator’s website. The move came six days after the central bank listed Sberbank as a digital depository.

Licenses let Sberbank keep trading in‑house

Holding both statuses lets the bank sit on the other side of a client’s trade and also keep the ledger of that client’s holdings, without sending anyone to an outside venue, according to the report.

Sberbank said the depository status would let it offer crypto services in interfaces clients already use. The bank plans to start inside SberBank Online, SberInvestments and SberBusiness on December 1, beginning with Bitcoin, Ethereum and Tether’s USDT, according to its press service. The date is hedged and depends on the central bank’s decisions and on secondary regulations being ready in time; with both approvals now in place, that rulebook is the main variable.

Prices as of 2026-10-14 21:03 UTC. Source: CoinGecko.

Retail access comes with caps and a ban on payments

Under the law Putin signed in August, non‑qualified investors can spend up to 300,000 rubles a year per intermediary and must pass a knowledge test, the report says. The central bank’s draft list of tradable coins includes only Bitcoin, Ethereum and USDT. Spending crypto inside Russia remains illegal, so Sberbank customers will be able to buy Bitcoin but not pay for products with it.

Sberbank ended the second quarter with 110.6 million retail clients and 3.5 million corporate clients, according to its quarterly results cited in the report. Plugging crypto into that user base turns a regulated on‑ramp into one more menu item inside an app those customers already use for everyday banking.

Deputy Chairman Anatoly Popov has forecast crypto trading volumes in Russia of 4 trillion rubles in the regime’s first year and 7.5 trillion rubles by 2029, or nearly $89.7 billion, the report says. The bank also plans to accept Ethereum and USDT, alongside Bitcoin, as collateral for loans once the central bank allows them into public circulation.

Firms already on the registers have until September 1, 2027, to bring their operations fully in line with the new law, the central bank said. Sberbank’s planned December rollout depends on the secondary rulebook arriving in time.

Source: Decrypt.
This article was written with AI assistance and reviewed by an editor.
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