Crypto: Russia's leading bank prepares Bitcoin, Ethereum and USDT offering

Bitcoin in the services of the first Russian bank. Sberbank has been included in the register of digital depositories of the Bank of Russia since October 6. The establishment plans to launch its first products linked to Bitcoin, Ethereum and USDT on December 1.

This opening is part of the new Russian regulatory framework, which authorizes investment in cryptocurrencies under conditions and maintains the ban on domestic crypto payments.

Key Points

Sberbank joins the first five digital custodians registered with the Bank of Russia.

The bank is aiming for a launch on December 1, in the interfaces already used by its customers.

The Russian framework also provides access for non-qualified investors, with a ceiling of 300,000 rubles per year per intermediary.

Sberbank prepares Bitcoin, Ethereum and USDT offer

Sberbank had submitted its application for digital depository status on October 5. The next day, it joined the first group of authorized establishments, alongside VTB, Atomyze, Voltari and Cloud Infrastructure. The Bank of Russia has also registered four cryptocurrency exchange operators. VTB appears in both categories.

Digital custodian status makes it possible to record client assets and rights, ensure their transfers and provide access to the addresses where they are recorded. It therefore concerns the organization of their holding and circulation, and does not constitute, in itself, an authorization to carry out all the activities of an exchange platform.

For its first products, Sberbank announces Bitcoin, Ethereum and USDT. The bank plans to use its existing interfaces, without imposing a new application on its customers.

The calendar, however, retains an important condition. When making its request, the establishment indicated that the launch scheduled for December 1, 2026 depended on its registration in the register and the availability of the implementing texts. Registration is now complete, but it does not mean that the services are already open.

Supervised access, including for individuals

And this new system does not reserve cryptocurrencies for qualified investors only. The Bank of Russia also provides access for non-qualified investors, after a knowledge test and within the limit of 300,000 rubles (approximately €3,100) per year from the same intermediary. Accredited investors must also pass a test, but are not subject to the same purchase limit.

For non-qualified individuals, the regulator has retained Bitcoin, Ethereum and USDT in the list of accessible assets, based in particular on their liquidity, their capitalization and their trading history. These general rules, however, do not specify all the commercial conditions of the future offer from Sberbank.

Furthermore, paying for goods and services in cryptocurrencies remains prohibited within the country. The opening of the investment market therefore does not transform Bitcoin or USDT into authorized domestic means of payment.

The first registered establishments must comply with the transaction and accounting rules upon admission. The Bank of Russia is giving them until September 1, 2027 to bring their activity into compliance with all applicable requirements.