Sberbank Receives Approval for Cryptocurrency Trading Ahead of December Launch
- Sberbank has secured authorization from the Bank of Russia to trade cryptocurrencies, including Bitcoin, Ether, and Tether’s USDt.
- The bank plans to launch its crypto trading services on December 1, through platforms like SberBank Online and SberInvestments.
- The updated register from the Bank of Russia now includes a total of ten authorized crypto exchange operators and six digital custodians.
- Sberbank has already begun testing crypto transactions via its app, with the final launch contingent on further central bank regulations.
- New regulations effective September placed all exchange operators under central bank oversight, while cryptocurrency payments for goods remain prohibited in Russia.
This development marks a significant step for Sberbank as it prepares to enter the cryptocurrency market amid new regulatory frameworks in Russia. The inclusion of major players like Sberbank signals a shift in the country’s approach to digital assets.
With plans for launching trading services supporting Bitcoin and others by December, Sberbank is poised to become a key player in Russia’s evolving cryptocurrency landscape.
