Sberbank, Russia's largest lender, has secured approval from the Bank of Russia to trade cryptocurrencies, including Bitcoin, clearing a key regulatory hurdle ahead of a planned December launch of its crypto services.

The central bank's updated register, dated Tuesday (Oct. 13), now lists 10 authorized crypto exchange operators and six digital custodians, up from four and five, respectively, just one week earlier, meaning the number of approved exchange operators has more than doubled in a matter of days. The register published by the Bank of Russia includes major lenders Sberbank and VTB alongside nonbank companies such as T-Invest Lab and Atomyze. The central bank maintains the register, which serves as the list of firms authorized to operate, as part of its oversight of the country's crypto market.

Sberbank previously said it plans to launch crypto products supporting Bitcoin (BTC), Ether (ETH) and Tether's USDt (USDT) on Dec. 1, 2026, through its existing SberBank Online, SberInvestments and SberBusiness platforms. Because those channels are Sberbank's existing banking, investment and business apps, the rollout would place crypto services inside interfaces its customers already use rather than in a standalone crypto product.

Testing is already underway. Russian business newspaper Vedomosti reported on Thursday, citing the bank's press office, that Sberbank has begun testing crypto purchases, sales, deposits and withdrawals through its SberBank Online app. The bank said in a statement on its website that the final launch timeline depends on the adoption of additional central bank regulations.

The registrations follow the Sept. 1 entry into force of Russia's new crypto rules, which placed exchange operators and digital custodians under central bank oversight. The framework stems from legislation signed by President Vladimir Putin. Despite the new regime, Russia still prohibits the use of cryptocurrencies to pay for goods and services, meaning registered firms can offer trading and custody even as crypto remains barred as a means of payment.

Sberbank was among the first companies to secure digital custodian status when the central bank issued its initial round of approvals under the new framework last Tuesday.

Before the planned Dec. 1 start, the outstanding items are the additional central bank regulations Sberbank cited as a condition for its final timeline, plus any further updates to a register that has already expanded rapidly since the framework took effect.

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