Sberbank Bets Big on Russia's Booming Crypto Market

Russia's largest bank, Sberbank, is preparing to tap into the country's growing cryptocurrency market. According to Deputy Chairman Anatoly Popov, Russia's crypto trading volumes could reach as much as 4 trillion rubles (~$46.43 billion) in the first year under new rules and climb to roughly 7.5 trillion rubles (~$87 billion) by 2029.

Popov described the projection as conservative, noting that a large share of transactions will keep flowing through crypto exchange services that bypass formal exchange trading.

The bank plans to accept Ethereum and Tether's USDT as collateral for loans alongside Bitcoin, but only after the Central Bank allows them for public circulation. Sberbank has already gained hands-on experience with digital assets by running a Bitcoin-backed loan pilot with mining firm Intelion in December 2025.