Russian bank VTB has announced that it will become the first bank in the country to provide its customers with instant, or “spot,” cryptocurrency trading by 2026. This initiative will enable VTB clients to invest directly in digital currencies alongside traditional banking services. As a major state-owned financial institution, VTB plays a significant role in Russia’s financial sector. The announcement comes amid growing global popularity of cryptocurrencies and increasing efforts by financial institutions to enter this market. Regulatory reforms in Russia are underway, moving toward allowing banks to participate in the crypto market. Spot trading in cryptocurrencies means buyers and sellers can exchange crypto assets immediately without delays or contracts, allowing investors to trade at current market prices—a critical factor given the volatility of the crypto market. This move is seen as a major step toward integrating cryptocurrencies into Russia’s financial system. However, due to market fluctuations and regulatory challenges, users are advised to proceed with caution. VTB’s introduction of this advanced service may encourage other Russian financial institutions to launch their own crypto offerings, promoting growth in the sector. This development reflects the increasing influence of digital currencies on Russia’s economy and financial services and could open a new chapter for cryptocurrency acceptance and use in the country.
Source: coindesk
