Sberbank Receives Central Bank Approval for Digital Currency Custody and Trading
Russia's largest lender plans to offer trading and custody for major cryptocurrencies across its retail and corporate apps beginning December 1.
The Bank of Russia has licensed Sberbank as an authorized crypto exchange operator, granting permission on October 12 after approving the institution as a digital depository six days earlier. The dual authorizations permit the country's primary lender to buy and sell digital assets directly while maintaining internal ownership ledgers without reliance on third-party venues.
Sberbank intends to roll out services for Bitcoin, Ethereum, and Tether's USDT across SberBank Online, SberInvestments, and SberBusiness on December 1, pending final secondary regulatory rules. As of the end of the second quarter, the bank counted 110.6 million retail users and 3.5 million business clients.
Under existing domestic frameworks, individual retail investors face an annual transaction ceiling of 300,000 rubles per intermediary alongside a mandatory assessment, while crypto payments for goods remain prohibited. Sberbank Deputy Chairman Anatoly Popov projected that domestic crypto trading volumes could reach 4 trillion rubles, or roughly $46 billion, in the regime's opening year.
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