Add as a preferred source on GoogleRussia’s Sberbank Plans Customer Crypto Trading From Dec. 1
The bank has tested Bitcoin, Ether and Tether trading online, but Russia’s central bank will determine the final asset list.
Russia’s largest bank, Sberbank, has joined the country’s registry of cryptocurrency trading operators and plans to open digital-asset trading to all customers on Dec. 1.
Sberbank has tested trading in Bitcoin (BTC), Ether (ETH) and Tether (USDT) through its Sberbank Online platform. The service is also planned for the bank’s investment and corporate-finance apps.
The final list of cryptocurrencies available to customers will be set by the Central Bank of Russia. The launch date also depends on when the related regulations take effect.
Sberbank’s registry entry follows its inclusion in Russia’s digital-custodian registry earlier this month. Russia’s digital-currency and digital-rights law took effect Sept. 1, establishing a legal framework for cryptocurrency circulation through exchanges, brokers, trustees and registered crypto trading operators.
The registry now includes nine operators, while the separate digital-custodian registry has five members. Sberbank also began offering cryptocurrency-based cross-border settlement services to corporate customers in September.
The bank’s planned retail rollout is scheduled for Dec. 1, subject to the central bank’s rules and implementation timeline.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.