Sberbank Adds ETH, USDT to Crypto Loan Services
Russia's largest financial institution, Sberbank, is expanding its crypto loan services beyond Bitcoin. Ethereum and Tether's USDT will now be accepted as collateral for loans.
The move comes ahead of Russia's new crypto regulations, which are expected to take effect on September 1, 2026. The law allows crypto trading through intermediaries, but prohibits crypto payments.
Sberbank Deputy Chairman Anatoly Popov stated that the bank will soon add new cryptocurrencies to the list of assets that can be used as collateral for loans.
The addition of ETH could be simple, but adding USDT is more complicated due to concerns about Tether freezing tokens linked to sanctioned entities. Sberbank has been under US blocking sanctions since 2022 and is also subject to an EU asset freeze.