Sberbank is preparing to launch cryptocurrency custody and trading services for its more than 110 million customers pending regulatory approval from the Bank of Russia.
The move follows a draft framework proposed by the central bank in December that would formalise crypto investment rules while limiting retail participation.
Russia’s largest lender is positioning itself to become a key gateway for digital asset exposure within the traditional financial system once regulations are finalised.
“We expect that exchange trading will bring the market the necessary liquidity and minimal spreads,”
Said Sberbank Senior Vice President, Ruslan Vesterovsky.
“With the introduction of regulation and the launch of organised trading, we, together with other market participants and the Bank of Russia, will be ready to provide clients with access,”
He added.
Sberbank has already begun integrating crypto into its operations after issuing a cryptocurrency-backed loan to mining firm Intelion, signalling broader ambitions in digital asset financing.
The central bank’s proposal would allow both qualified and retail investors to trade cryptocurrencies, although non-qualified participants would face an annual cap of around $4,000 through a single provider.