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- VTB Bank plans to introduce spot crypto trading for qualified investors in 2026.
- VTB joins a small group of global banks providing direct crypto trading.
VTB Bank is preparing to launch spot cryptocurrency trading for high-net-worth clients in 2026, marking one of Russia’s clearest steps toward regulated digital-asset access. The bank, the country’s second-largest by assets, plans to support deliverable Bitcoin and Ethereum trades under a controlled system designed for professional investors.
The initiative places VTB among a small but growing circle of global lenders providing direct exposure to major cryptocurrencies. Testing is already underway with select customers, according to reports on Dec. 3. Access will remain limited, and executives signaled that retail availability is not expected under Russia’s current direction.
Russia’s Crypto Investment Eligibility Rules Take Shape
Qualification standards are set at the upper end of the market. Investors must hold portfolios above $1.3 million or maintain annual income exceeding $650,000, according to VTB’s head of brokerage services, Andrey Yatskov. He confirmed preparations for “superqualified” clients and noted that this category will stay narrow once licensing rules take effect.
Regulators are developing a framework to authorize cryptocurrency brokers, custodians, and related intermediaries. “Such regulation will definitely increase the transparency of this market,” VTB’s Andrey Yatskov commented on the sidelines of the “Russia Calling!” forum. Yatskov further noted that brokerage-based access will likely remain the foundation for compliant crypto trading, and VTB expects to participate if the final rules align with its current infrastructure.
Russia’s Sanctions Pressures Push Crypto Adoption
Western sanctions have limited Russia’s access to the international financial system, which prompted businesses and individuals to look for alternative means of payment. Reports have suggested that crypto has been used in parts of Russia’s oil trade with China and India until 2023 and 2024. Oil has continued to be a major source of revenue, with the need for other means of settlement outside conventional banking becoming more necessary.
According to an October report by the news service TASS, Deputy Finance Minister Ivan Chebeskov estimated that about 20 million Russians use cryptocurrency in some way. The Bank of Russia responded by allowing banks to operate in the sector for the first time. VTB executives say client demand is still growing and mirroring increases in global wealth markets.
With a market value of almost $250 billion and assets exceeding $410 billion, the bank is in a strategic position as oversight continues to evolve. Yatskov said the institution plans to be actively involved in the sector as long as brokerage-based access is the regulator’s model of choice.
VTB joins a select group of major financial institutions offering direct access to spot crypto. Standard Chartered opened spot Bitcoin and Ethereum trading to institutional clients in July. BBVA and Santander have added similar services in selected markets in 2024, while Liechtenstein’s Bank Frick has been supporting multiple cryptocurrencies since 2018. Singapore’s DBS Bank is also reported to have added spot trading to eligible customers.
