Sber Plans Crypto Loan Collateral Expansion Amid Digital Ruble Skepticism

Russia's largest bank by assets, Sber, plans to add USDT and ETH as loan collateral, pending approval from the Bank of Russia. This move comes ahead of the country's regulated crypto market opening on September 1, 2026.

Sber's Deputy Chairman Anatoly Popov confirmed the plan, stating that the additions will follow the central bank's formal approval of each asset for domestic trading. The assets in question are Tether (USDT) and Ethereum (ETH), which will join Bitcoin (BTC) as accepted crypto loan collateral.

The regulatory foundation for this is a new law signed by President Vladimir Putin, giving the Bank of Russia sole authority to determine which digital assets qualify for listing on regulated exchanges. The central bank has already proposed BTC, ETH, and USDT as its first candidates, citing their market caps, trading volumes, and verifiable price histories.

In contrast to this expansion into crypto lending, Sber's Chief Financial Officer Taras Skvortsov publicly questioned demand for Russia's state-issued digital currency, the digital ruble. He stated that he sees no clear interest in the instrument from the private sector apart from the central bank itself.