Sberbank Joins Bank of Russia Crypto Exchange Register

Sberbank, Russia’s largest lender, joined the Bank of Russia’s register of crypto exchange organizations on Monday, bringing the list of authorized operators to ten firms, according to Cryptopotato. The listing allows the bank to buy and sell digital currencies on its own account, outside organized trading, under the central bank’s definition of the role.

Sberbank already sat on the regulator’s separate register of digital depositories, and it and VTB are the only firms on both lists. A digital depository keeps the record of clients’ crypto, handles transfers between clients and gives them access to the addresses where those assets are held. Ryazan-registered Paradise Technology joined the exchange list the same day, while a firm named TT brought the depository list to six.

Testing has already started

Cointelegraph reported that Sberbank has begun testing crypto purchases, sales, deposits and withdrawals through its SberBank Online app, citing a report by Russian business newspaper Vedomosti that referenced the bank’s press office. The bank has said it Plans to launch crypto products supporting Bitcoin (BTC), Ether (ETH) and Tether’s USDt (USDT) on December 1, 2026, through its existing SberBank Online, SberInvestments and SberBusiness platforms rather than a separate app.

The accounts do not fully agree on some details. PANews, citing CoinDesk, said the Bank of Russia’s register held nine institutions at the time of its October 13 report, while Cointelegraph put the updated tally at ten authorized exchange operators and six digital custodians. PANews also reported that the final list of tokens supported for trading will be determined by the Bank of Russia, a point the other reports do not address.

Why it matters

Sberbank is Russia’s largest bank, so its arrival on the exchange register marks a shift in how the country’s dominant lender approaches digital assets. In 2022 the Bank of Russia had proposed barring domestic crypto trading platforms and financial institutions from crypto business; the framework that took effect on September 1 has instead built a regulated market involving banks, brokers, trading platforms and digital asset depositories. Registered firms must follow the central bank’s rules for crypto transactions from the day they are listed, with full compliance due by September 1, 2027. For ordinary Russians, that means crypto access may increasingly run through familiar banking apps, though using crypto to pay for goods and services remains prohibited.

What to watch

The central bank’s remaining rulemaking is the near-term trigger, since Sberbank has tied its launch to the readiness of the regulations that put the crypto law into effect. Also worth tracking: PANews reported that from July next year, crypto trading will need to go through registered intermediaries, and peer-to-peer transactions between individuals via bank accounts may be restricted.

Advertisement

Alexander Vedyakhin, First Deputy Chairman of Sberbank, said on July 24 that the bank planned to build crypto trading infrastructure and a digital depository by December 1. The State Duma had passed the crypto law in its third reading three days earlier.

Sources: CryptoPotato, Cointelegraph, PANews