Russia’s second-largest bank, VTB, plans to allow wealthy clients to trade Bitcoin and Ether starting next year, becoming the first major bank in Russia to enter the spot crypto market. According to the RBU, the service will be available to investors with portfolios over $1.3 million or annual income exceeding $650,000. Currently, VTB is testing with a small group of high-net-worth clients and says there is little likelihood of expanding to the general public.
Russia’s stance on digital assets has become more flexible as sanctions have limited access to global finance. Officials have stated that millions of Russians have used crypto for payments and savings. Russia also uses digital assets in some oil transactions with China and India. The central bank allows credit institutions to operate crypto businesses within a controlled framework. VTB says customer demand reflects global trends.
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