Sberbank Accepts Bitcoin as Loan Collateral, Eyes Ethereum and USDT

Russia's largest bank, Sberbank, is expanding its crypto-lending business by accepting Bitcoin as collateral for loans. The lender plans to eventually add Ethereum and Tether's USDT as loan collateral once public circulation of these assets is permitted by the Bank of Russia.

Sberbank Deputy Chairman Anatoly Popov stated that Bitcoin will be the first cryptocurrency accepted as collateral, with Ethereum and USDT following later after regulatory approval. The bank already has experience working with digital assets and will adapt its existing products to accommodate this new offering.

The move is part of Sberbank's gradual rollout under Russia's new regulatory framework for digital assets. This phased approach mirrors how Russian regulators have rolled out crypto rules, testing them in stages before widening access.