Russia's Sberbank Seeks to Tap Crypto Collateral for Loans
Russia's largest bank, Sberbank, is planning to expand its lending business by accepting Bitcoin (BTC), Ethereum (ETH), and Tether's USDT as collateral for loans.
The move comes as Russia begins operating a framework for cryptocurrency trading and ownership, with the law taking effect on September 1.
According to Anatoly Popov, deputy chairman of Sberbank's management board, the lender intends to broaden eligible crypto collateral beyond Bitcoin to Ethereum and USDT, pending central-bank rules becoming fully operational.
The expansion would allow corporate holders to raise liquidity without immediately selling their digital assets, but would also require custody standards, collateral valuation, liquidation procedures, and lending limits to manage risk.