Russia’s Largest Bank Is Ready to Offer Crypto Trading to 110 Million Customers

TLDR

• Sberbank, Russia’s largest bank, is ready to launch crypto custody and trading services for its 110 million customers, pending central bank approval.
• Non-qualified investors will be capped at around $4,000 per year in crypto purchases under the proposed rules.
• Anonymous coins like Monero, Zcash, and Dash will be banned under the new framework.
• Sberbank already issued a crypto-backed loan to mining firm Intelion in December and plans to expand that program.
• Russia aims to finalize crypto regulations by June, with implementation planned for July 1, 2027.

Russia’s biggest bank is preparing to enter the cryptocurrency market, waiting only for the green light from regulators to start offering crypto trading and custody services to its customers.

Sberbank serves more than 110 million retail customers and is majority-owned by the Russian state. The bank says its technical infrastructure is already in place. It is ready to offer margin trading, AI-based investment strategies, and a secure custody setup the moment regulations are confirmed.

Senior Vice President Ruslan Vesterovsky made the announcement at the Moscow Exchange forum. He said the bank expects exchange trading to bring liquidity and tight spreads to the market. He added that the bank will move quickly once organized trading rules are in place.

The Central Bank of Russia still classifies cryptocurrencies as high-risk. But it has allowed limited use of digital assets within the financial system. Sberbank’s existing crypto activity shows that the bank is already operating at the edges of what is currently permitted.

In December, Sberbank issued one of the first crypto-backed loans in Russia to Intelion, a cryptocurrency mining company. Intelion manages more than 300 megawatts of power and serves around 1,500 customers. Sberbank has since announced plans to offer similar loans to other companies.

What the Proposed Rules Would Allow

Russia’s lawmakers are working toward finalizing a full cryptocurrency regulatory framework by June. If passed on schedule, the rules would take effect on July 1, 2027.

Under the draft, both qualified and non-qualified investors would be allowed to buy and sell cryptocurrencies. Non-qualified investors, however, would face an annual purchase limit of around 300,000 rubles, which is roughly $3,934. They would also need to pass a suitability test before being allowed to trade.

Qualified investors would face no volume restrictions, though they would still need to complete a mandatory risk assessment.

The list of permitted assets is expected to include Bitcoin and Ethereum. The central bank explicitly bans digital currencies for use in domestic payments inside Russia.

Which Coins Are Banned

Privacy-focused cryptocurrencies are excluded entirely from both investor categories. Monero, Zcash, and Dash are all banned under the proposed framework due to anti-money laundering concerns.

The rules also introduce penalties for illegal intermediary activity in the crypto space. These penalties are aligned with existing penalties for illegal banking operations, giving authorized institutions like Sberbank a clearer legal footing.

The regulatory concept separates retail and qualified investors into two tiers. This structure limits risk for everyday investors while giving experienced ones more freedom.

Sberbank’s entry into the crypto market is directly tied to the finalization of the December draft regulations. The bank has already expanded its crypto-backed lending and is building out its platform for more firms.

Russia’s crypto regulation is expected to be finalized by June, with full implementation set for mid-2027.

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