Sberbank Readies Cryptocurrency Trading Services for Over 110 Million Customers

Sberbank, Russia's largest lender, is taking steps to expand its services into the cryptocurrency space. The bank has announced plans to launch cryptocurrency custody and trading services for its over 110 million customers, pending regulatory approval from the Bank of Russia.

The move follows a proposed framework by the central bank that would formalize crypto investment rules and limit retail participation. According to the proposal, both qualified and retail investors would be allowed to trade cryptocurrencies, but non-qualified participants would face an annual cap of around $4,000 through a single provider.

Sberbank's Senior Vice President, Ruslan Vesterovsky, has stated that exchange trading will bring necessary liquidity and minimal spreads to the market. The bank is positioning itself to become a key gateway for digital asset exposure within the traditional financial system once regulations are finalised.