Key facts
- Sberbank has been added to Russia's authorized crypto exchange register.
- Sberbank plans to launch its first cryptocurrency products on December 1.
- Russia's new digital asset regulations came into effect on September 1.
- Sberbank joins eight other organizations on the crypto exchange register.
- The digital depository register in Russia includes five organizations.
The Central Bank of Russia has officially added Sberbank, the nation's largest lender, to its register of authorized cryptocurrency exchange operators. This move, announced on Monday, signifies Sberbank's expanded role within Russia's newly established regulatory framework for digital assets.
Sberbank's approval allows it to offer cryptocurrency services through its existing digital banking platforms, with the bank aiming to introduce its first products on December 1. This follows Sberbank's earlier registration as a digital depository, enabling it to maintain records of cryptocurrency ownership and digital rights.
The country's comprehensive cryptocurrency law, which came into effect on September 1, outlines rules for trading, storing, and providing financial services related to digital currencies. The central bank began accepting applications for relevant authorizations on October 5, with some institutions eligible for simplified, notification-based registration.
Sberbank is now one of nine organizations listed on the cryptocurrency exchange register, which facilitates digital currency transactions. Other entities on this list include VTB and T-Invest Lab. Russia also maintains a separate digital depository register, currently listing five organizations including VTB and Atomyze, responsible for recording holdings and providing administrative services for digital assets.