Russian Banking Giant VTB to Become Country's First to Offer Spot Crypto Trading: Report

VTB Bank, Russia's second-largest lender, intends to launch spot cryptocurrency trading services for qualified investors in 2026, making it the first Russian institution to offer direct trading for major cryptocurrencies like Bitcoin and Ether. Access will be restricted to investors meeting high thresholds, such as portfolios exceeding $1.3 million or annual incomes over $650,000. This move follows Russia's increasing reliance on crypto to circumvent Western sanctions, particularly concerning its oil trade with China and India. While the government is acknowledging crypto's reality, VTB does not anticipate widespread adoption among the general population. VTB joins a small group of global banks, including Standard Chartered and BBVA, that are beginning to offer similar crypto trading services.

(Source：CoinDesk)