Russia’s central bank has authorized Sberbank, the country’s largest lender, to exchange digital currencies, clearing the way for the bank to offer Bitcoin, Ethereum and USDT through its existing financial platforms.
Sberbank gains both exchange and custody permissions
The Bank of Russia added Sberbank to its register of organizations permitted to exchange digital currencies on October 12, according to reporting by Decrypt. The authorization allows the bank to buy and sell cryptoassets in its own name and using its own funds.
The decision followed a separate approval issued six days earlier, when Sberbank was added to the central bank’s register of digital depositories. A digital depository maintains the official record of ownership for cryptoassets.
Together, the two statuses give Sberbank the ability to act as the counterparty in a customer’s transaction and to maintain records of the customer’s holdings. Customers will not need to be directed to an external crypto venue for those functions.
The permissions represent a significant change in the way crypto services may be delivered in Russia. Sberbank can now place crypto-related products inside platforms that its customers already use for banking and investment services, subject to the country’s rules and any further regulatory requirements.
Planned launch includes Bitcoin, Ethereum and USDT
Sberbank’s press service said its first crypto products are planned for December 1 through SberBank Online, SberInvestments and SberBusiness. The initial offering is expected to include:
- Bitcoin
- Ethereum
- Tether’s USDT stablecoin
A stablecoin is a type of cryptoasset designed to track the value of another asset, commonly a national currency. USDT is included in the Bank of Russia’s draft list of coins that may be traded under the new framework.
The December date is not yet unconditional. Sberbank has said the launch depends on decisions by the central bank and on secondary regulations being prepared on time. The bank has now received both of the relevant register approvals, leaving the supporting rulebook as the main stated variable for the planned rollout.
The scale of Sberbank’s customer base could make the launch a major test of regulated crypto access in Russia. The bank reported 110.6 million retail customers and 3.5 million corporate customers at the end of the second quarter. Integrating digital-currency services into its existing applications would make crypto trading available within familiar banking interfaces rather than through a separate specialist platform.
Limits remain for retail customers
The new access will not mean unrestricted crypto use. Under a law signed by President Vladimir Putin in August, non-qualified investors may spend up to 300,000 rubles, approximately $3,800, per year through each intermediary. Buyers must also pass a knowledge test.
The rules apply to trading access, while using crypto to pay for goods remains illegal in Russia. Sberbank customers may therefore be able to purchase Bitcoin, Ethereum or USDT through the bank, but they cannot use those assets to pay for products under the current rules.
Sberbank also plans to accept Ethereum and USDT, alongside Bitcoin, as collateral for loans once the central bank permits those assets to enter public circulation. That plan depends on a further regulatory decision and is separate from the initial trading launch.
The regulatory shift follows an earlier period of opposition from the Bank of Russia. In January 2022, the central bank proposed banning crypto use, mining and exchanges outright, citing risks to financial stability. The bank is now registering authorized operators, although existing firms have until September 1, 2027, to bring their activities fully into line with the new law.
Russia’s crypto market and current prices
Bank of Russia Deputy Chairman Anatoly Popov has forecast that crypto trading volumes in Russia could reach 4 trillion rubles, roughly $46 billion, during the first year of the new regime. He has projected 7.5 trillion rubles, or nearly $89.7 billion, by 2029.
Moneyiar market data as of October 15, 2026, at 21:29 Moscow time showed Bitcoin at $82,210.195864091, up 0.58% over 24 hours and 0.72% over seven days. Ethereum was at $2,455.6437974289, up 1.52% over 24 hours but down 0.73% over seven days.
At 21:28, USDT was priced at $0.9988559651, with a 0.01% 24-hour gain and a 0.04% seven-day decline. Shiba Inu, included in Moneyiar’s market data but not among Sberbank’s announced launch assets, was at $0.0000051277, up 1.56% over 24 hours and down 3.24% over seven days.
