TLDR Sberbank received approval from the Bank of Russia to provide Bitcoin and crypto custody services. Customers will access crypto services through the bank’s existing digital platforms. Sb
Sberbank has received approval from the Bank of Russia to provide custody services for Bitcoin and other digital currencies. The approval allows Russia’s largest bank to record digital currency holdings and support transfers between accounts. The bank said it will offer the service through its online banking platforms.
Customers will access crypto services through SberBank Online, SberInvestments, and SberBusiness. Sberbank said it does not plan to release a separate app. The bank will start with a limited group of customers before opening the service more widely.
JUST IN:
Russia's largest bank Sberbank, has received approval to offer digital asset custody services starting with Bitcoin
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— Bitcoin Magazine (@BitcoinMagazine) October 7, 2026
Russia has moved quickly to create a system for crypto trading and custody. President Vladimir Putin signed a law this month covering digital currencies and digital rights. The move follows wider changes in global crypto custody rules, including the US SEC crypto custody proposal released last week.
The Bank of Russia also published draft rules for crypto trading in July. Lawmakers in the State Duma have worked on broader digital asset rules during 2026. These measures set standards for banks, exchanges, and firms that want to offer crypto services inside the country.
Sberbank first announced plans in July to launch a Bitcoin and crypto wallet by December. The bank also planned digital asset custody services. Its latest approval moves those plans closer to launch while keeping customer access inside platforms that already use bank identity checks and transaction monitoring.
Other financial firms are also seeking regulated ways to handle digital assets. Rain’s federal trust bank application in the United States is one recent example. Sberbank, however, will operate under Russian rules and will begin with a controlled rollout before expanding access.
The approval does not allow customers to use Bitcoin or other cryptocurrencies as legal payment inside Russia. Russian law has banned crypto payments since 2022. At the same time, firms continue moving closer to traditional finance, with the OKX expansion beyond crypto trading showing a similar push elsewhere.
Sberbank can now provide custody and transfer services within Russia’s new regulatory structure. The bank said customers will use familiar banking tools rather than separate crypto products. President Putin has previously said Bitcoin cannot be stopped, while Russian authorities continue building rules around how people and companies may use digital assets.
The post Sberbank Wins Bitcoin Custody Approval in Russia appeared first on Blockonomi.
