Sanctioned Russian Lender VTB Bank Moves Toward Regulated Spot Crypto Trading

VTB Bank, second-largest lender, is getting ready to begin spot cryptocurrency trading for approved high-net-worth clients in 2026. This will make it the first central Russian bank to enter the regulated spot crypto market. 

The project follows testing with a few affluent consumers and is part of Moscow’s sluggish move towards making digital assets more accessible under rigorous government oversight.

Bank officials made it clear that more people will not be able to use their services, which are only available to individuals who meet certain income or portfolio requirements.

Pilot Program for Top Investors

Local news outlets on December 3 that VTB will allow only certified high-net-worth individuals to trade on the spot during the test phase in 2026. The bank is being careful about how it rolls out its services because Russia’s cryptocurrency laws are changing.

Testing is already going on with a small group of wealthy clients. This action is in line with the central bank’s rules, which state that banks can trade in cryptocurrencies only if specific conditions are met.

Sanctions Push People to Use Crypto

Western sanctions have accelerated Russia’s use of cryptocurrencies for cross-border payments, and even in parts of its oil dealings with China and .

Officials from the government say that millions of Russians currently use digital assets to save and pay for things, even though trading them was once illegal. debut takes advantage of this trend, with bank officials saying that rising client demand is a significant factor.

Global Peers Set the Standard

VTB points to other banks worldwide, including , Santander, BBVA, and DBS, which have successfully offered similar crypto services to wealthy clients. These global trends are consistent with what VTB views in its extensive client base, although the bank did not provide exact asset figures.

Russian regulators know the bank’s pilot as a controlled way for more institutions to get involved without putting individual investors at risk of significant price swings.

The central bank of has given banks like VTB the green light to assist with crypto under controlled conditions. This keeps innovation and financial stability in check. If testing goes well, the pilot could lead to additional services, even if public access remains limited.

Analysts think this is Russia’s practical way of dealing with sanctions, using cryptocurrency to overcome traditional financial obstacles.