Sberbank Wins Russian Crypto Exchange Approval Ahead of Planned App Launch

Sberbank, Russia’s largest bank, has received authorization to operate a cryptocurrency exchange and plans to offer trading through its existing app in December, with retail purchases subject to limits.

The proposed service would let customers trade Bitcoin (BTC), Ether (ETH) and Tether (USDT). The authorization covers the bank’s exchange operation; customer trading through the app remains planned for December. The bank has not announced that the planned service is available to customers.

Russian rules require investors who are not classified as qualified to pass a test before buying crypto. Those investors also face a limit on purchases. Passing the test would therefore be one requirement for access, not an exemption from the purchase limit.

The distinction matters for Sberbank’s rollout: approval for the bank to operate an exchange does not remove the rules governing individual buyers. The proposed service would bring trading in three crypto assets into an app the bank already operates, while keeping retail access subject to those rules.

Sberbank’s next stated step is the planned December launch through its app.