Belarus is accelerating its push into digital finance, promising citizens new ways to earn, stake, borrow, and spend cryptocurrencies like Bitcoin after formally legalizing crypto banks within its financial system.
A senior official from the National Bank of the Republic of Belarus (NBRB) outlined how the country intends to integrate crypto into everyday banking, with the first fully operational crypto bank expected to launch in 2026.
State-Controlled Crypto Banking Model
Alexander Egorov, First Deputy Chairman of the NBRB, revealed in an interview with the state-run First Information Channel that Belarus has introduced what he described as the world’s first state-integrated crypto banking framework.
Unlike jurisdictions such as Switzerland or the United States, where crypto banks operate as private entities under regulatory approval, Belarus is building a centrally supervised system embedded within the national banking structure.
The legal foundation for this move came through a special decree signed by President Alexander Lukashenko last month. According to Egorov, the model will focus on delivering “tangible services” to citizens rather than limiting crypto to speculative trading.
The first Belarusian crypto bank is expected to open in 2026, with products potentially rolling out earlier.
Bitcoin-Backed Loans and Staking Services
One of the headline offerings will be crypto-secured loans, allowing citizens to use Bitcoin and other digital assets as collateral while borrowing traditional Belarusian rubles.
Egorov explained the model in simple terms: citizens deposit their Bitcoin into a crypto bank as collateral, receive fiat currency in return, and once the loan is repaid, their crypto holdings are returned. This structure allows holders to access liquidity without selling appreciating digital assets.
In addition to lending, the system will introduce staking services, which Egorov described as a “next-gen depositing” mechanism. Through staking, users can earn passive income while supporting blockchain networks, with rewards distributed through the banking platform.
Crypto Payment Cards for Everyday Use
Perhaps the most anticipated feature is the introduction of crypto-linked bank cards.
According to Egorov, these cards will function like traditional debit cards but will be directly connected to a user’s crypto account. When paying at a physical store, the system will instantly convert a portion of cryptocurrency into Belarusian rubles at the point of sale.
This real-time conversion model aims to make crypto practical for daily transactions without requiring merchants to directly accept digital assets.
Legal Crypto Income for the Self-Employed
A major regulatory shift will also affect freelancers and self-employed individuals.
Previously, designers, programmers, and contractors receiving crypto payments from foreign clients faced legal uncertainty when attempting to deposit funds and pay taxes. Under the new framework, these individuals will be able to legally accept cryptocurrency remuneration, provided transactions pass through a licensed Belarusian crypto bank.
This change could impact hundreds of thousands of workers who operate in cross-border digital markets.
Oversight and Compliance Structure
The new crypto banking ecosystem will operate under dual oversight.
Technical security checks will be conducted by specialists from Minsk’s High-Tech Park (HTP), while the central bank will maintain traditional financial supervision. Crypto banks will be responsible for client verification and transaction monitoring, effectively applying compliance standards similar to conventional financial institutions.
Egorov framed the initiative as a strategic move to transform blockchain’s theoretical potential into practical economic tools for citizens and businesses.
Belarus, long considered one of the most crypto-progressive states in the post-Soviet region, first introduced digital token regulations in 2018. Recent Western sanctions limiting access to traditional fiat channels have further accelerated crypto adoption within the country.
With this new framework, Belarus is positioning itself not just as a regulator of crypto, but as a state-backed facilitator of mainstream digital asset banking.
