Russia's Sber Bank Expands Crypto-Backed Lending to Include USDT and Ether

Russia's largest bank, Sber, is expanding its crypto-backed lending to include Tether's USDt stablecoin and Ether as collateral, alongside Bitcoin.

The move comes as Russia introduces a regulated crypto market under a law signed by President Vladimir Putin on August 4, with key provisions taking effect on September 1.

Sber will adapt its existing products to gradually expand its offerings after the Bank of Russia permits these assets for public trading.

The central bank has proposed Bitcoin, Ether, and USDT for regulated exchange trading, saying they meet requirements including market capitalization, trading volume, and at least five years of price history on overseas markets.