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Sberbank Becomes First Russian Bank Authorized to Custody Bitcoin
Sberbank has become Russia's first bank approved by the central bank to custody bitcoin and other cryptocurrencies.
07/10/2026 16:277 min read
Bitcoin Magazine
Russia’s Sberbank Given Green Light to Custody Bitcoin
Russia's biggest bank has declared itself the country's first institution to receive approval for bitcoin custody services.
In a Wednesday announcement, Sberbank stated that the Bank of Russia had granted it permission for “digital currency record-keeping” and for enabling the transfer of such assets. The approval covered bitcoin as well as other smaller cryptocurrencies.
Russia is proceeding quickly with its digital asset regulatory framework. President Vladimir Putin signed a law this month that codifies rules for digital currencies and digital rights in the country.
JUST IN: Russia's largest bank Sberbank, has received approval to offer digital asset custody services starting with Bitcoin pic.twitter.com/lbhXspcHtd
— Bitcoin Magazine (@BitcoinMagazine) October 7, 2026
“Customers will be able to conduct cryptocurrency transactions via SberBank Online, SberInvestments, and the SberBusiness online banking platform,” the bank said in a statement, adding that no new apps or platforms will be released.
It added: “For users, this means that digital currency transactions are moving into familiar banking interfaces — complete with standard customer identification, transaction monitoring, and reporting.”
The bank noted that the service will initially be offered to only a limited set of customers before a full-scale launch.
In July, Sberbank unveiled its intention to roll out a Bitcoin and crypto wallet along with digital asset custody by December. The Bank of Russia released draft rules for crypto trading that same month, and the State Duma has worked on comprehensive digital asset legislation throughout the year.
Even with this development, digital assets remain barred as a payment method or legal tender in Russia. Crypto payments have been outlawed in the country since 2022.
Putin has previously expressed favorable views on Bitcoin, once remarking that the leading cryptocurrency can’t be stopped.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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