Sberbank Plans Crypto Products After Russia Approves Trading

Russia’s central bank added Sberbank to its register of institutions authorized to trade digital currencies on Oct. 12. Sberbank plans to begin offering crypto-linked products on Dec. 1, with timing subject to further central bank decisions and rule preparation. The authorization allows the bank to buy and sell cryptocurrencies in its own name and with its own funds. Sberbank plans to make its first products available through SberBank Online, SberInvestments and SberBusiness. The initial assets are Bitcoin (BTC), Ether (ETH) and Tether’s USDT.