Sberbank becomes Russia's first bank approved as a digital depository by the Central Bank, launching digital asset custody services December 1.
Regulation & Gov ·
Sberbank has received approval from Russia's Central Bank to operate as a digital depository, becoming the first bank in the country to hold this status. The designation permits the bank to maintain records of digital currencies and related rights. Operations under this new capability are scheduled to begin December 1 and will be incorporated into Sberbank's current service offerings, allowing customers to access digital asset custody without requiring separate applications or enrollment processes.
The approval represents a regulatory milestone in Russia's approach to digital asset infrastructure, marking an official integration of custody services within the traditional banking system. The Central Bank's decision to grant depository status to a major bank signals movement toward formalized frameworks for holding digital assets, though specifics about which digital assets qualify, custody fee structures, or whether other banks may seek similar status remain unclear.