Sberbank Expands Crypto-Backed Lending Services Beyond Bitcoin

Russia's largest bank, Sberbank, is planning to expand its crypto-backed lending services beyond Bitcoin. According to Anatoly Popov, Deputy Chairman of Sberbank, the bank will accept Ethereum and Tether's USDT as collateral for loans, in addition to Bitcoin.

The move comes as Russia prepares new crypto market rules, with the Bank of Russia set to decide which cryptocurrencies can be traded through regulated channels. However, Sberbank's overall offering still depends on approval from the central bank.

Sberbank has already tested a similar model in December 2025, providing a corporate loan secured by cryptocurrency mined by Intelion Data. The pilot project gave the bank experience with handling crypto as security for traditional loans.