Sberbank Expands Crypto-Backed Lending Beyond Bitcoin

Russia's largest lender, Sberbank, is planning to expand its crypto-backed lending business beyond Bitcoin. According to Anatoly Popov, deputy chairman of Sberbank's management board, the bank will accept Ethereum and USDT as collateral once regulators clear the way.

The expansion of Sberbank's crypto-backed lending business comes as Russia rolls out a regulated crypto market under a law signed by President Vladimir Putin on August 4. The legislation designates the Bank of Russia as the authority responsible for determining which digital assets may trade on regulated exchanges.

Sberbank has already gained hands-on experience with crypto collateral through its pilot Bitcoin-backed loan with Russian mining company Intelion Data in December 2025. Popov said the model could eventually serve a wider range of companies holding digital assets, rather than remaining limited to miners.