On 28 September 2026, Belarus’s Hi-Tech Park (HTP) registered its first two “crypto-banks” — a status with no equivalent in most countries. Most readers will assume one of two things: that a crypto-bank is just a crypto exchange with a grander name, or that it’s an ordinary bank that happens to hold crypto. It is neither.
It is a deliberate hybrid: an HTP resident licensed to combine token activity — crypto operations — with certain banking, payment and other financial operations, under a regime that the government, the National Bank and the HTP put together over the course of 2026. For a foreign investor, the news is both a signal and an opportunity: Belarus is deliberately building a bridge between traditional finance and crypto within the HTP’s special legal regime, and the status is now live and attainable. Two things, however, temper the excitement. First, authorisation is a two-step process, and the headline event is only step one. HTP residency alone is not enough: a crypto-bank must also be entered in the National Bank’s register before it can operate, which is why the two newly registered residents are not yet doing business as crypto-banks. Second, the status sits within a heavily regulated and closely supervised framework. This piece covers what happened, what a crypto-bank actually is, and what it means in practice.
Start with the facts. At its meeting on 28 September 2026, the HTP’s Supervisory Board, chaired by the Prime Minister, registered two residents as crypto-banks — the first in Belarus. The move follows the presidential decree on crypto-banks, which took effect in July 2026, and a package of acts adopted in 2026 by the government, the National Bank and the HTP that put the framework in place over the preceding months: requirements for the organisations, the list of permitted operations, and accounting and reporting rules. The two organisations have not been named publicly; officials described them as established crypto-market players with hands-on experience in the field. As reported by the state news agency, the HTP Secretariat called the step significant — an evolutionary move that brings traditional finance and the crypto industry closer together.
This is the part worth getting right, because the name is misleading in both directions. A Belarusian crypto-bank is not a classic bank, and it is not an ordinary crypto exchange — it is a hybrid. An HTP resident with this status may combine token (crypto) activity with certain banking, payment and other financial operations under the HTP’s digital-asset regime. In other words, it can do some of what a bank does and some of what a crypto platform does within a single regulated entity — precisely the bridge between traditional finance and crypto that the authorities say they want to build. That hybrid nature is the whole point of the status, and it is what makes it genuinely novel: not an exchange calling itself a bank, nor a bank dabbling in crypto, but a new, clearly defined category that deliberately sits between the two.
This is the detail most headlines skate over, and it matters. HTP registration — the event of 28 September — is not the end of the process. To actually operate as a crypto-bank, an organisation must also be included in the National Bank’s register. So the two residents now hold HTP status, but they still have to clear the National Bank step before they can do business as crypto-banks. The HTP’s special regime grants the right to work with digital assets; National Bank registration adds the requirements that apply to conventional banking and payment operations. Only with both in place is an organisation fully authorised. The practical takeaway: “registered as a crypto-bank” does not yet mean “open for business as one”, and anyone following this story should watch for the National Bank step, not just the HTP announcement.
The framework around the status is substantial, as befits an entity that straddles banking and crypto. Supervision is dual: both the HTP and the National Bank have a role. Notably, while a crypto-bank’s data is protected by bank secrecy, the HTP Secretariat is entitled to obtain information on crypto accounts and token deposits, so confidentiality works alongside oversight rather than replacing it. A crypto-bank must warn its clients about the risks of cryptocurrencies and their volatility. It also carries the usual obligations of a regulated financial business: requirements for the organisation itself, a defined list of permitted operations, accounting and reporting duties, and anti-money-laundering compliance. This is no regulatory free zone. The status comes with real, ongoing obligations and real supervision — exactly what you would expect of a licence that lets an entity handle both crypto and fiat money.
For the right investor, this is a genuine opportunity. Belarus has created a novel crypto-finance status within the HTP’s regime — and has now granted it for the first time. It is a bridge between banking and crypto that few jurisdictions offer, and it is live rather than theoretical. A serious, experienced crypto-finance player could build a regulated crypto-banking business in Belarus on this basis. But read the signals honestly: the first two to obtain the status were established market players with hands-on experience, the requirements are real, and authorisation takes two steps. This regime is aimed at professional operators; it is not a quick, light-touch set-up for anyone who wants a crypto badge. If you are that kind of operator, it is well worth watching and assessing — and if you are setting up a company in Belarus more broadly, it shows how far the HTP’s digital-asset ambitions now reach.
Any sober reading of this news needs two caveats. A crypto-bank is bound by anti-money-laundering obligations and dual supervision — it is a regulated financial status, not a loophole. And, like any Belarus-linked financial business, it operates within the current sanctions and banking environment, which has to be navigated properly. This is a domestic regulatory development, not a vehicle for moving sanctioned money, and it should not be treated as one. For a genuinely interested investor, the sensible path is to assess eligibility against the new (and still evolving) requirements, plan for both the HTP and the National Bank steps, factor in the tax and structuring questions that come with any regulated entity, and take specialist advice early — a brand-new regime is exactly where good advice earns its keep. We are following how the regime develops, so if it is relevant to you, get in touch.
A new hybrid — neither exchange nor bank — authorised in two steps and supervised at every stage.
| Aspect | Detail |
| What it is | A hybrid — an HTP resident combining token (crypto) activity with certain banking, payment and financial operations |
| First registered | Two HTP residents, 28 September 2026 (names not disclosed) |
| Legal basis | The presidential decree on crypto-banks (in force since July 2026) and implementing acts adopted in 2026 by the government, the National Bank and the HTP |
| Authorisation | Two steps: HTP registration and inclusion in the National Bank’s register |
| Can it operate yet? | Not until the National Bank step is completed |
| Supervision | Dual — the HTP and the National Bank; the HTP can access crypto-account data |
| Confidentiality | Covered by bank secrecy, subject to HTP oversight |
| Obligations | Risk/volatility warnings, reporting, and anti-money-laundering compliance |
Correct as of the registrations on 28 September 2026. The regime is new and still evolving, so check the current rules and status before acting.
A hybrid status for an HTP resident that allows it to combine token (crypto) activity with certain banking, payment and financial operations under the HTP’s digital-asset regime. It’s neither a classic bank nor an ordinary crypto exchange, but a new, clearly defined category that deliberately sits between the two and is meant to bridge traditional finance and crypto.
The HTP’s Supervisory Board (chaired by the Prime Minister) registered two residents as crypto-banks on 28 September 2026 — the first in Belarus. The two organisations haven’t been named publicly; officials described them as established crypto-market players with hands-on experience. The registration followed the presidential decree on crypto-banks, in force since July 2026, and a package of 2026 acts by the government, the National Bank and the HTP.
Neither, strictly speaking — and that’s the point. A crypto-bank can do some of what a bank does (certain banking, payment and financial operations) and some of what a crypto platform does (token activity) within a single regulated entity. The name is misleading in both directions; it’s best understood as a deliberate hybrid, a new category rather than a rebranded exchange or a crypto-curious bank.
Not as crypto-banks — not yet. HTP registration is only the first step; to operate, a crypto-bank must also be included in the National Bank’s register. The two residents hold HTP status but still need to complete the National Bank step. So “registered” doesn’t yet mean “open for business” — watch for the National Bank registration, not just the HTP announcement.
Both the HTP and the National Bank — supervision is dual. A crypto-bank’s data is protected by bank secrecy, but the HTP Secretariat is entitled to obtain information on crypto accounts and token deposits, so confidentiality works alongside oversight. It’s a supervised, accountable status, not a free zone.
Requirements for the organisation itself, a defined list of permitted operations, accounting and reporting duties, mandatory warnings to clients about crypto risks and volatility, and anti-money-laundering compliance. In short, the obligations of a regulated financial business that handles both crypto and fiat money — real and ongoing, not a one-off formality.
The status is aimed at serious, experienced crypto-finance operators — the first two were established market players — with real requirements and a two-step authorisation (the HTP, then the National Bank). So it’s a genuine opportunity for the right operator, not a quick set-up for anyone. If that describes you, assess your eligibility against the new requirements and plan for both steps with professional advice.
No. A crypto-bank is a regulated status, bound by anti-money-laundering rules and subject to dual supervision, and it operates within Belarus’s wider compliance and sanctions environment, which must be navigated properly. This is a domestic regulatory development designed to bring finance and crypto closer together — not a vehicle for moving sanctioned money, and it should not be treated as one.
Belarus has registered its first two crypto-banks — a genuinely new hybrid status that combines crypto and banking within the HTP, granted in two steps (the HTP, then the National Bank) and supervised accordingly. It’s a real opportunity for serious crypto-finance players and a notable regulatory move. But it comes with a two-step gateway, dual oversight and anti-money-laundering obligations, and it sits within Belarus’s wider compliance environment, so it is no light-touch haven. The two residents have the status; what to watch next is the National Bank step and how the regime beds down in practice.
If the crypto-bank status is relevant to your plans — or you want to understand how the HTP’s digital-asset regime fits into a wider structure — tell us what you’re building, and we’ll advise on where things stand and what it would take. Get in touch, and see our guide to the Hi-Tech Park for an overview of the regime it sits within.
By international standards, registering a company in Belarus is remarkably quick — often a matter of days. That speed can be misleading. The registration certificate marks the start of the work, not the end of it: the first twelve months bring a sequence of steps and deadlines that are easy to miss if you assume […]
Foreign investors weighing up the EAEU tend to take one of two shortcuts: they treat the member states as interchangeable (“it’s all the EAEU”), or they default to the biggest and go straight to Russia. Both miss what actually matters. The EAEU is a single market: set up in any one member state and your […]
A foreign-owned Belarusian company doing cross-border business keeps hitting the same wall in 2026: payments that used to be routine now bounce, sit in limbo or come back rejected weeks later. The instinct is to blame its own bank, or to go hunting for “a corridor that still works”, as if the problem were finding […]
