Belarus has taken a step towards launching its first two crypto banks after registering two companies as High-Tech Park residents eligible to seek crypto-bank status. The development was announced on September 28 at a High-Tech Park meeting chaired by Prime Minister Aleksandr Turchin. The companies cannot yet operate as crypto banks.
They must first receive accreditation from the National Bank and be added to its official crypto-bank register. The move follows more than six months of work by the government, National Bank and High-Tech Park to establish the new regulatory framework.
Anna Ryabova, head of the High-Tech Park Supervisory Board Secretariat, said the two companies had first received High-Tech Park resident status. This is an important step, but it does not give them permission to operate as crypto banks.
JUST IN: 🇧🇾 Belarus officially registers its first two crypto banks.
— Watcher.Guru (@WatcherGuru) September 28, 2026
The next stage involves accreditation by the National Bank. Once the companies are approved and added to the regulator’s official register, they will be able to begin operating under the new rules.
Dmitry Kalechits, first deputy head of the High-Tech Park Supervisory Board Secretariat, said the companies had already completed much of the preparation needed for the launch. They have built professional teams, established their information technology systems and completed technical and legal audits.
Source: sb.by
According to Kalechits, both companies already have experience in the cryptocurrency market. Their operations will be supervised by both the High-Tech Park and the National Bank, giving the two institutions separate roles in overseeing the new crypto banks.
Belarus established the legal framework for crypto banks earlier this year. President Alexander Lukashenko signed Decree No. 19 on January 16, 2026, creating rules for crypto banks to operate alongside the country’s existing financial system.
Under the framework, a crypto bank must have High-Tech Park resident status and be included in the National Bank’s crypto-bank register. The rules also define the types of digital-asset services these institutions can provide.
Earlier government rules allowed crypto banks to offer services such as crypto deposits, loans backed by digital assets, staking, cryptocurrency transfers, exchange services, digital-asset custody and token issuance.
The framework also includes an approved list of cryptocurrencies that crypto banks can use. Bitcoin, Ethereum, Solana and Toncoin were among the assets mentioned in earlier announcements. The government can change the list as the cryptocurrency market develops.
The creation of crypto banks is part of Belarus’ broader effort to bring cryptocurrency activity into a regulated financial system. National Bank officials said in April that major foreign financial institutions had shown interest in establishing crypto banks in the country.
For now, the two companies have completed the High-Tech Park registration stage. Their next step is National Bank accreditation and inclusion in the official register. Only after those steps are completed can they begin operating as crypto banks.
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