Sberbank, Russia's largest banking institution, has officially been added to the Bank of Russia's register of crypto exchange organizations, bringing the central bank's approved exchange list to 10 firms.
Dual Registration and Regulatory Approvals
According to news agency Interfax, the new registry listing permits Sberbank to buy and sell digital currencies on its own account outside of organized trading venues. Sberbank was already listed on the central bank's separate register of digital depositories, which maintain records of clients' crypto assets, manage asset transfers, and provide clients with public key addresses. Following this addition, Sberbank and VTB stand as the only two financial institutions included on both central bank registries.
The Bank of Russia began accepting applications for both registers on October 5, following the enactment of Russia's law on digital currencies and digital rights on September 1. On October 6, the central bank listed its first four crypto exchange organizations—VTB, T-Invest Lab (a subsidiary of T-Technologies, which also owns T-Bank), Zefir, and Sistema-Crypto—alongside five depositories. Non-bank credit organization FinPilot and Professional Bank joined the exchange list on October 8, followed by Moi Bitcoin and Kirov-based lender Khlynov on October 9. On Monday, Sberbank and Ryazan-registered Paradise Technology joined the exchange list, while a entity named TT joined the depository register, bringing its total to six.
Infrastructure Launch and Asset Offerings
Although initial approvals fell under transitional legal provisions, registered entities must comply with central bank crypto transaction rules immediately upon listing, with full legal compliance mandated by September 1, 2027. Sberbank originally obtained a license to issue and exchange digital assets in March 2022. Since 2025, the lender has offered structured bonds and digital financial assets tied to Bitcoin (BTC) and Ethereum (ETH), and in December 2025, it completed a pilot program for loans backed by crypto collateral.
Speaking on July 24—three days after the State Duma passed the crypto law in its third reading—Alexander Vedyakhin, First Deputy Chairman of Sberbank, stated that the bank aimed to build its crypto trading infrastructure and digital depository by December 1. Sberbank applied for depository status on the first day of open registration and plans to support BTC, ETH, and Tether (USDT) directly within SberBank Online, SberInvestments, and SberBusiness, without launching a standalone application.
Key Takeaways
- Sberbank was added to the Bank of Russia's crypto exchange register on Monday, making it the 10th firm approved to trade digital currencies.
- Sberbank and VTB are the only two institutions holding dual status on both the central bank's exchange and digital depository registries.
- Trading support for BTC, ETH, and USDT is targeted to go live inside SberBank Online, SberInvestments, and SberBusiness by December 1.
Why It Matters
As governments globally establish strict legal parameters around digital asset infrastructure—much like how South Korea authorized courts to freeze crypto—Russia's regulated approach concentrates domestic crypto activity within state-adjacent banking giants. By securing dual status as both a depository and exchange entity, Sberbank positions itself to capture institutional and retail liquidity for BTC, ETH, and USDT ahead of Russia's mandatory September 1, 2027 full legal compliance deadline.
