Russia’s Sberbank Approved as Crypto Custodian for Bitcoin, Ethereum and USDT

07 Oct, 2026

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Highlights

Sberbank joined Russia’s first approved crypto custodian register under the country’s new regulatory framework.
The bank plans Bitcoin, Ethereum and USDT products through its existing digital banking platforms soon.
Russia’s new crypto law allows regulated trading and custody while keeping crypto payments prohibited nationwide.

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Russia has officially registered its first crypto trading company and custody firm, with Sberbank becoming part of the new regulated crypto trading market in the country.

Sberbank Joins Russia’s First Crypto Custodian Register

The Bank of Russia published its first register of approved crypto firms on October 6. The regulator added four operators of trading platforms and five digital asset custody operators under new rules.

Sberbank, Russia’s largest bank, joined the custody register alongside Atomyze, Voltari and Cloud Infrastructure. VTB Bank is listed on the trading/brokerage and custody lists.

Meanwhile, T-Invest Lab, Zefir and Sistema-Crypto are among the approved trading operators. The companies are subject to regulations relating to trading, custody, record keeping, and internal controls.

The new framework was implemented from September 1st. By next September, registered firms will be required to comply with all legal and operating requirements of the law.

Sberbank Plans Bitcoin, Ethereum and USDT Products

Sberbank plans to launch its first crypto products on December 1. Initial services will enable the bank to offer Bitcoin, Ethereum and USDT (Tether).

The products will be offered via SberBank Online, SberInvestments and SberBusiness. These services are already available in the bank’s overall digital platform.

Sberbank is also planning to increase lending based on digital assets. Bitcoin is projected to be the primary asset for the planned secured lending business.

CoinGape earlier reported that Russia’s largest bank opened the door to Bitcoin, Ethereum and USDT-backed loans, with mining collateral expected to support future balance-sheet crypto products.

However, Ethereum and USDT could join later as the regulatory framework develops. Approval and final operating rules will be a determinant for any wider rollout.

Russia Expands Its Regulated Crypto Market

Russian President Vladimir Putin signed the crypto law in August. The bill established a legal structure for exchanges, custodians, brokers and investors.

The Bank of Russia will supervise companies operating under the new system. Firms must also meet compliance, reporting and record-keeping standards set by the regulator.

The Bank of Russia has also proposed allowing Bitcoin, Ethereum and USDT to trade publicly on regulated exchanges. The proposal would further expand access to approved digital assets within the country’s regulated market.

Meanwhile, Russia remains against cryptocurrency payments for goods and services. The new rules, then, are more about the regulated trading, custody and investment activity.

Major financial institutions have a clear path to the Russian market for cryptocurrencies from the first registrations. The approval brings Sberbank to the top tier of licensed custodians in the country.

The bank is preparing for the upcoming December product launch. Bitcoin, Ethereum and USDT will form the first group of supported digital assets.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.