Sberbank gains Bank of Russia approval to trade Bitcoin and other digital assets

The Bank of Russia added Sberbank to its register of crypto exchange operators six days after listing it as a digital depository. Sberbank plans to launch crypto products, starting with Bitcoin, Ethereum, and USDT, on December 1 across its SberBank Online, SberInvestments, and SberBusiness platforms. Retail buyers are subject to a 300,000 ruble annual cap per intermediary and a mandatory knowledge test, while using crypto to pay for goods remains illegal in Russia. Sberbank has 110.6 million retail clients and 3.5 million corporate clients as of the end of the second quarter.