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Bank of Russia clears Sberbank to exchange and hold crypto, with products due in December
Summary
Russia's central bank has authorized Sberbank, the country's biggest bank, to exchange cryptocurrencies, Decrypt and Bitcoin Magazine reported on Oct. 14.
Decrypt said Sberbank now holds both custody and exchange status under Russia's new crypto law and plans to bring Bitcoin, Ethereum and USDT to apps used by 110 million retail clients.
Bitcoin Magazine reported that the bank will debut its bitcoin-related products in December.
Key facts
- Sberbank holds both custody and exchange status under Russia's new crypto law.
- It plans to offer Bitcoin, Ethereum and USDT to 110 million retail clients.
- Bitcoin-related products are due in December.