VTB, Russia’s second-largest bank, will test spot crypto trading for its wealthy clients in 2026, as Moscow slowly formalizes regulated access to digital assets.
Summary
- VTB will pilot spot crypto trading in 2026, restricted to qualified high-net-worth investors under Russian regulations.
- The move follows Russia’s broader use of crypto in payments and in some oil trades with China and India amid Western sanctions.
- The bank cites growing demand from clients and global peers like Standard Chartered, Santander, BBVA and DBS already offering similar services.
VTB Bank, Russia’s second-largest lender, plans to introduce cryptocurrency spot trading for its wealthy clients in 2026, becoming the first major Russian bank to enter the crypto spot market, according to Russian media reports.
The bank will limit access to transactions to qualified investors who meet specific portfolio or income thresholds, local media reported on December 3. Bank officials said testing was currently underway with a select group of wealthy customers. VTB said wider public access remains unlikely.
VTB Bank to offer crypto services to wealthy clients in Russia
Russia’s approach to digital assets has evolved in recent years as international sanctions limit access to global financial systems. Government officials have said millions of Russians already use cryptocurrency for payments and savings, despite previous regulatory efforts to limit commercial activity.
The country has incorporated cryptocurrency into part of its oil trade with China and India, according to reports. Senior central bank officials have indicated that banks will receive permission to operate in cryptocurrency markets under regulated conditions.
VTB reported that customer interest in cryptocurrency services reflects global market trends. The bank maintains substantial market value and assets, although precise figures have not been disclosed.
Several international banks in Europe and Asia have launched comparable cryptocurrency services, including Standard Chartered, Santander, BBVA and DBS.
