Russia's largest bank Sberbank approved as crypto custodian, launching Bitcoin, Ethereum, and USDT products December 1.
Regulation & Gov ·
Sberbank, Russia's largest bank, has been approved as a cryptocurrency custodian and plans to launch products tied to Bitcoin, Ethereum, and USDT beginning December 1. The approval follows Russia's formal registration of nine licensed crypto operators under new regulatory frameworks, which took effect in September.
The custodian designation permits Sberbank to hold and manage crypto assets on behalf of clients, marking a significant institutional move into digital assets within the Russian financial system. The December 1 launch date suggests the bank is preparing infrastructure and compliance procedures ahead of that rollout.
It remains unclear whether Sberbank will offer additional cryptocurrency products beyond the three named tokens, what custody fees or terms will apply, or how the service will operate under existing payment restrictions that apply to crypto operators in Russia.