- Sberbank prepares crypto trading and custody services, awaiting regulatory approval to launch for 110M users.
- Proposed rules may allow retail access with limits, a shift toward regulated crypto participation in Russia.
- Bank built infrastructure and tested services, positioning for fast rollout once regulations are finalized.
Russia’s largest bank, Sberbank, is preparing to roll out cryptocurrency trading and custody services once regulations are finalized, according to TASS. Senior Vice President Ruslan Vesterovsky confirmed the plan at a Moscow Exchange forum. The bank aims to offer these services to its 110 million clients after approval from the Bank of Russia.
Regulation Remains the Key Barrier
Sberbank has already built the infrastructure required for crypto services. However, it cannot launch without regulatory clearance from the central bank. According to officials, draft rules introduced in December aim to define how banks handle digital assets.
These proposals would allow both qualified and non-qualified investors to access crypto markets. Retail investors may face a yearly purchase cap of about $4,000 through a single provider. This framework would mark a shift from the current limited access environment.
Meanwhile, Vesterovsky stated that Sberbank will act once organized exchange trading begins. He added that collaboration with regulators and market participants remains ongoing. This regulatory process now shapes the timing of the launch.
Infrastructure Built for Trading and Custody
Sberbank confirmed that its existing systems can support crypto trading operations. Vesterovsky noted that exchange-based trading could improve liquidity and reduce spreads. He also highlighted capabilities such as margin trading and AI-based investment strategies.
Additionally, the bank plans to integrate custody solutions within its platform. This setup would allow clients to manage digital assets alongside traditional financial products. As a result, funds could move within a unified banking environment.
The bank has already tested crypto-related services. In December, it issued a crypto-backed loan to Intelion, a mining company managing over 300 megawatts of power. Following that deal, Sberbank said it plans to expand such lending to more firms.
Market Positioning and Next Steps
Sberbank’s scale places it at the center of Russia’s growing crypto sector. The bank serves more than 110 million retail customers across the country. Even limited adoption could introduce millions of users to regulated crypto services.
However, the central bank still classifies cryptocurrencies as high-risk instruments. Despite that stance, it has allowed limited integration into financial systems. This cautious approach continues to influence policy development.
For now, Sberbank remains ready but inactive. The final regulatory decision will determine when services move from preparation to launch.
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