- Sberbank plans to launch crypto trading infrastructure and custody tools this year.
- Russia’s first crypto register lists four trading operators and five custodians.
- Bitcoin is expected to lead Sberbank’s lending collateral, with ETH and USDT later.
Sberbank plans to launch cryptocurrency trading infrastructure this year after Russia’s central bank added it to the country’s first register of approved crypto custodians. The bank is preparing a digital depository to track client holdings, alongside wallets for deposits, withdrawals and transfers.
The framework plans coincide with preparations to expand lending secured by digital assets. Bitcoin is expected to serve as the primary collateral, while Ethereum and USDT could be included later, depending on regulatory approvals and final operating rules.
Sberbank Plans Digital Depository for Client Holdings
The digital depository will record clients’ cryptocurrency ownership and process most transactions outside the main blockchain.
Alexander Vedyakhin, first deputy chairman of Sberbank’s management board, earlier described the depository as a key component of the planned infrastructure. It will maintain records of crypto rights and account for transactions conducted outside the blockchain.
Sberbank will operate active wallets to fulfill clients’ transfer instructions. Those wallets will handle customer deposits, withdrawals, and transfers alongside the depository’s ownership records. Beyond custody, the bank plans to increase lending against digital assets.
Russia Registers Trading and Custody Operators
Sberbank’s inclusion followed the Bank of Russia’s publication of its first register on October 6. The regulator approved four trading platform operators and five digital asset custody operators. Atomyze, Voltari and Cloud Infrastructure joined Sberbank on the custody list. VTB Bank appeared on both the trading and brokerage register and the custody register.
Meanwhile, T-Invest Lab, Zefir and Sistema-Crypto were among the approved trading operators. The registered firms face requirements covering trading, custody, record keeping and internal controls.
Central Bank Sets Crypto Asset Thresholds
Furthermore, lawmakers completed final readings earlier this month on a bill governing digital asset activity and establishing a comprehensive cryptocurrency market framework.
The legislation would grant the Bank of Russia broad oversight, including authority to determine which cryptocurrencies licensed intermediaries can offer. It would also authorize the regulator to issue implementing rules.
The central bank has set liquidity limits that include average market capitalization exceeding 5 trillion rubles, or approximately $64 billion. The requirements also specify an average daily trading volume of over 1 trillion rubles over two years.
Related: Russia’s Sberbank Set December Target to Launch a Crypto Wallet
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