Sberbank, Russia’s largest bank, says it is ready to launch cryptocurrency trading and custody services for its 110 million clients once regulators give the green light. According to TASS, Senior Vice President Ruslan Vesterovsky confirmed the plan at a Moscow Exchange forum, saying the bank is waiting for approval from the Bank of Russia before going live.
The main obstacle is no longer technical readiness. It is regulation. Sberbank said it has already built the infrastructure needed to support crypto services, but cannot activate the offering until the central bank signs off. Officials pointed to draft rules introduced in December that are meant to define how banks can handle digital assets.
Draft Rules Could Open Access to Retail Investors
Under the proposals, both qualified and non-qualified investors could be allowed into the crypto market. Retail investors would face tighter conditions: purchases may be limited to about $4,000 per year through a single provider. If adopted, that framework would shift Russia away from its current environment of restricted access and toward a more regulated entry point for crypto participation.
Vesterovsky said Sberbank will move once organized exchange trading begins. The bank is still working with regulators and other market participants, and that process will decide the launch timetable. The product set is prepared, but the start date remains tied to final rulemaking.
Sberbank Says Existing Systems Can Support Crypto Operations
The bank also said its current systems are capable of handling crypto trading activity. Vesterovsky argued that exchange-based trading could improve liquidity and narrow spreads. He also referenced additional capabilities including margin trading and AI-based investment strategies.
Custody is part of the plan as well. Sberbank intends to integrate custody services into its broader platform so clients can manage digital assets alongside traditional financial products within one banking environment. That structure would keep asset handling and fund movement inside the bank’s existing ecosystem.
Bank Has Already Tested Crypto-Linked Services
Sberbank has already run tests tied to crypto-related finance. In December, it issued a crypto-backed loan to Intelion, a mining company that manages more than 300 megawatts of power. After that transaction, the bank said it planned to extend similar lending products to more companies.
Given Sberbank’s scale, even limited adoption could have a large effect on Russia’s regulated crypto market. The bank serves more than 110 million retail customers across the country, which means a partial rollout could still bring millions of users into bank-managed crypto services. At the same time, the Bank of Russia continues to classify cryptocurrencies as high-risk instruments, while allowing only limited integration into the financial system. That cautious stance is still setting the pace.