Russia to Settle Sberbank for Crypto Trades Ahead of December Launch

Russia's largest bank, Sberbank, has secured a crypto exchange license as it prepares to offer trading in Bitcoin, Ether and Tether (USDT).

Russia's largest bank, Sberbank, has secured a cryptocurrency exchange license as it prepares to offer USDt Bitcoin, Ether and Tether trading.

Sberbank, Russia's largest lender, has won central bank approval to trade cryptocurrencies, including bitcoin, ahead of a planned launch in December.

The Bank of Russia's updated register dated Tuesday lists 10 licensed crypto exchange operators and six digital custodians, up from four and five, respectively, a week ago. These lists include major lenders Sberbank and VTB alongside non-banking companies such as T-Invest Lab and Atomyze.

Sberbank has previously said it plans to launch crypto products with support for Bitcoin (BTC), Ether (ETH) and USDt Tether (USDT) on December 1, 2026 through its SberBank Online, SberInvestments and SberBusiness platforms.

Russian business newspaper Vedomosti reported on Thursday, citing the bank's press office, that Sberbank has already started testing buying, selling, depositing and withdrawing cryptocurrencies through its SberBank Online app. The bank said the final launch timetable would depend on additional regulations from the central bank.

The registrations come after new Russian cryptocurrency rules came into effect on September 1, placing exchange operators and custodians under the supervision of the central bank. The country still prohibits the use of digital currencies to pay for goods and services.

Sberbank was one of the first companies to secure digital trustee status last Tuesday.