Russia’s central bank has reportedly added Sberbank and VTB to its digital depository register. VTB is also listed as a cryptocurrency exchange. The move points to a more formal regulatory framework, but calling these institutions the country’s “first” is hard to justify when other organizations already appear in the same registers.
- Sberbank and VTB: reportedly added to the digital depository register.
- VTB: also reportedly added to the crypto-exchange register.
- “First”: unclear; Interfax names other firms in both registers.
- Retail access: launch plans have been reported, but registration alone does not mean customers can use the products.
Two registers, two different roles
Interfax reports that the Bank of Russia added Sberbank and VTB to its register of digital depositories. It also says VTB joined a separate register for organizations permitted to exchange cryptocurrency.
Interfax’s account of the Central Bank’s descriptions draws a distinction between the two roles. A digital depository can record and transfer digital currencies and digital rights, and give clients access to identifying information about where those assets are recorded. That does not necessarily mean it offers conventional crypto custody or retail trading.
An organization listed in the crypto-exchange register may buy and sell digital currencies in its own name and at its own expense, outside organized trading venues. That description alone does not mean it runs a public platform where customers can place orders directly.
The terminology matters. Interfax refers to both licenses and register entries, but the underlying Bank of Russia notice and register records are not available in the reporting cited here. Being “added to a register” should not automatically be read as a blanket license to offer any crypto product.
What does “Russia’s first” mean?
The claim that these are the “first” is difficult to reconcile with the organizations Interfax says are already listed. It names JSC Voltari, LLC Cloud Infrastructure and Atomyze as digital depositories, and LLC Zefir, LLC Sistema Crypto and T-Invest Lab as crypto exchanges.
A narrower meaning is possible, such as the first major banks to enter a particular category or the first institutions admitted through a new process. But no such definition is given. The available evidence supports a more limited description: major banks have reportedly joined registers that already included other organizations.
Interfax also says a law covering digital currencies and digital rights took effect on September 1. The report does not give the year in that passage or provide the law’s text, so its account alone does not establish the precise timing or legal details.
Registration is not the same as a retail launch
VTB Deputy CEO Vitaly Sergeichuk told Interfax that the bank expected to offer access through VTB My Investments in November 2026, then launch its own crypto exchange in December 2026. These were plans, not confirmation that the services launched or would be available to every customer.
Sberbank reportedly planned a launch on December 1, 2026, subject to the Central Bank’s decision on its application and the readiness of regulatory acts. That date was a target dependent on regulatory and implementation steps, not a guarantee.
Interfax also reports that VTB’s broker had conducted digital-currency transactions for corporate clients, with settlement through a digital depository. Olga Kim, head of VTB’s depository, said a stablecoin transaction had been concluded and settlements processed through digital accounts using VTB’s depository infrastructure. She said blockchain access was facilitated through an “upstream digital depository.”
The stablecoin, transaction value and counterparties were not identified. The reported activity points to institutional transactions, not broad retail access or an already open crypto market.
What the reported rules could allow
According to Interfax’s account of the framework, non-qualified investors would be able to buy Bitcoin, Ethereum and Tether’s USDT, with an annual limit of 300, 000 rubles through one intermediary. Qualified investors, the report says, could buy any cryptocurrency traded on exchange or over-the-counter markets, with no amount limit stated.
Interfax also says exporters and importers would be able to use cryptocurrency for cross-border settlements without restrictions. After a transition period, illegal intermediary activity in the crypto market was reportedly set to become punishable from July 1, 2027, with penalties similar to those for illegal banking activity.
These provisions could have significant consequences, but the report does not include the legal text or explain definitions, implementation rules, enforcement procedures or exceptions. Treat them as provisions described by Interfax, not a substitute for checking the rules themselves.
The report says existing financial intermediaries, including exchanges, brokers and trustees, may use existing infrastructure for crypto transactions. It also describes a simplified, notification-based route that could let some established players, including banks, obtain certain registrations within one day. That context makes it especially misleading to suggest the market began with these bank entries. The Bank of Russia has also said it will monitor banks’ dealings with crypto exchangers.
Key questions and answers
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Which institutions were reportedly added to the registers?
Interfax says Sberbank and VTB joined the digital depository register, while VTB also joined the crypto-exchange register.
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Were these Russia’s first crypto exchanges and depositories?
That has not been established. Interfax lists other organizations in both registers, and does not clarify what “first” means.
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What does a digital depository do?
As the Central Bank described it to Interfax, a digital depository records and transfers digital currencies and digital rights, and gives clients access to identifying information about where those assets are recorded.
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Does registration guarantee that a bank’s crypto service is available?
No. VTB’s reported rollout dates were plans, and Sberbank’s December 1, 2026 target depended on regulatory approval and readiness.
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What remains unclear?
Interfax’s account does not specify the original regulator notice, the exact legal status of each register entry, the full implementation rules or the year of the reported September 1 effective date.
A regulatory opening with limits
Giving large banks defined roles in crypto could offer some businesses and customers a more familiar path to regulated services. Access will still depend on investor categories, transaction limits and the rules governing which products intermediaries may offer. A bank’s name on a register does not mean access is permissionless or that a service is ready.
The clearest takeaway: Sberbank and VTB have reportedly joined Russia’s crypto-related registers, with VTB listed in two categories. The precise legal effect, product availability and scope of the wider framework depend on details the reported account does not fully provide.
