Russia’s largest bank, Sberbank, says it has received approval from the Bank of Russia to custody bitcoin and support transfers of digital assets, becoming the first bank in the country to receive authorization for this activity.
Approval from the Bank of Russia
Sberbank announced on Wednesday that the Russian central bank had granted it permission for “digital currency record-keeping” and for facilitating the transfer of such assets. The authorization covers bitcoin as well as other digital currencies, although the announcement did not identify those additional assets.
In practical terms, custody involves holding and maintaining records of customers’ digital assets on their behalf. Transfer services allow those assets to be moved between accounts or participants. The approval therefore gives Sberbank a formal role in the infrastructure used to handle cryptocurrency, rather than limiting its involvement to traditional banking services.
According to Bitcoin Magazine, Sberbank described itself as the first bank in Russia to receive approval to custody bitcoin. The report did not provide further details about when the service would begin, which customers would be eligible, or the exact range of digital assets covered beyond bitcoin and the reference to smaller cryptocurrencies.
Why the announcement matters
Sberbank is Russia’s largest bank, making the decision significant for the country’s financial sector. The authorization places a major established institution in a regulated role connected with digital-currency record-keeping and transfers. However, the available announcement does not set out any new rules for the wider Russian cryptocurrency market or indicate how other banks may be treated.
The approval also does not provide information about fees, custody limits, or customer protections. Those details were not included in the source material.
Market picture
Moneyiar market data at 09:34 on October 8, 2026, showed Bitcoin at $83,093.87, down 0.76% over 24 hours and 0.80% over seven days. Other tracked assets were mixed: Lighter was $3.61, down 1.56% in 24 hours and 9.90% over seven days; Compound was $23.72, up 1.56% over 24 hours but down 2.86% over seven days; and Aethir was $0.00676, down 0.13% in 24 hours and up 13.62% over seven days.
