Russian banks to bring Bitcoin access to 140 million clients via new registries
Russia’s central bank added Sberbank and VTB to its digital asset infrastructure registers on October 6, 2026, under rules that took effect September 1. VTB aims to start Bitcoin trading in November 2026, while Sberbank targets Bitcoin custody services by December 1, 2026, potentially reaching about 140 million customers. Bitcoin remains classified as an investment asset and is still barred as a payment method.
The central bank’s registers formalize roles for the country’s two largest lenders. Sberbank, serving roughly 110 million clients, is listed as a digital asset depositary and plans custody and management within its online and investment platforms by December 1, 2026. VTB, with about 31 million clients, received both depositary and exchange operator status and intends to begin Bitcoin trading in November 2026. Together they could reach about 140 million clients.
Initial services are expected to cover Bitcoin, Ethereum and Tether’s USDT. The framework follows rules effective September 1, 2026, and treats crypto as an investment asset rather than legal payment. The move also fits a broader Eurasian trend, including Hong Kong’s licensing efforts and Tether-related work in Kazakhstan.
If rollout proceeds, millions of Russian retail and business clients may gain familiar bank-app access to crypto exposure, potentially lowering barriers and increasing participation. This could deepen links between traditional banking and digital assets, while custody and investment risks, volatility, and fraud concerns may also grow. Because Bitcoin remains barred for payments, everyday commerce may see limited direct change; effects could concentrate among investors, savers, and institutions adapting to regulated channels.