Sberbank, recognized as Russia’s largest banking institution, has received the green light from the Central Bank of Russia to initiate cryptocurrency trading services. This significant advancement means that Sberbank is on the brink of allowing its customers to engage in transactions involving Bitcoin, Ethereum, and USDT directly through its mobile application.

The bank is set to begin testing these cryptocurrency transactions before its official launch, which is scheduled for December 1, 2026. This new feature will enable users to manage their digital assets within the bank’s app, eliminating the need to transfer funds to separate cryptocurrency exchanges.

Moreover, in early October, Sberbank was included in a roster of digital custodians tasked with safeguarding the records of cryptocurrency assets and associated digital rights. The bank noted that these authorizations would facilitate the delivery of cryptocurrency services through platforms already utilized by their customers.

New Regulations and Authorized Platforms

The framework for these developments stems from a recent law on digital currencies and rights, enacted in Russia on September 1, 2026, which provides a structured legal basis for conducting cryptocurrency transactions in the country. Under the new regulation, transactions can be made via established exchanges, brokerage firms, and licensed custody providers, in addition to specially authorized cryptocurrency exchanges and digital custody organizations.

Sberbank isn’t acting alone in this venture. Alongside it, eight other companies, including VTB and T-Bank—two prominent Russian banks— as well as T-Invest Lab, are also recognized as authorized cryptocurrency trading platforms.

As digital assets gain traction, the presence of digital custody institutions is crucial; they will help ensure the proper registration of ownership rights for these assets.

Note: This article is not intended as investment advice.