Sberbank Accepts Bitcoin as Loan Collateral, Eyes Expansion with 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 add Ethereum and Tether's USDT to its list of accepted digital assets once they receive approval from the Bank of Russia.

Sberbank Deputy Chairman Anatoly Popov said the bank aims to make digital-asset-backed borrowing a regular feature of its business, rather than a limited experiment. He emphasized that Bitcoin is the first crypto asset accepted as collateral, with Ethereum and USDT to follow after public circulation is permitted by the Bank of Russia.

The bank already has experience working with crypto assets and plans to adapt its existing products while expanding the offering once Russia's new regulatory framework for digital assets fully takes effect. This phased approach mirrors how Russian regulators have rolled out crypto rules, testing them in stages before widening access.