Sberbank Gets License From Russian Central Bank to Issue, Exchange Digital Assets

The approval comes a short while after the Bank of Russia had advocated for a full ban on the trading and mining of cryptocurrency.

AccessTimeIconMar 17, 2022 at 7:21 p.m. UTC
Updated May 11, 2023 at 4:51 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Russia’s Sberbank has received a license from the Bank of Russia to issue and exchange digital assets, just two months after the Russian central bank had advocated for a full ban on trading, mining and using cryptocurrency.

  • Sberbank, the country’s largest retail bank, recently said it was withdrawing from European markets after sanctions over the invasion of Ukraine began hitting Russian-exposed industries, and its Europe-based units were seeing cash outflows.
  • In January, Sberbank applied for a license with Russia’s central bank to issue its own digital token for corporate clients. Sberbank sought to have the digital asset available for the companies banking with it.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Author placeholder image

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.