Sberbank Expands Crypto-Backed Lending to Include Ethereum and USDT

Russia's largest bank, Sberbank, is preparing to expand its crypto-backed lending beyond Bitcoin. The bank plans to accept Ethereum and Tether's USDT as collateral for loans. According to Sberbank Deputy Chairman Anatoly Popov, the bank will add ETH and USDT after the Bank of Russia allows them for public circulation.

The pilot program for crypto-backed lending was already tested with Russian mining company Intelion Data in December 2025. The pilot involved a corporate loan secured by cryptocurrency mined by Intelion, which Sberbank used its custody infrastructure to hold during the loan period.

The planned expansion comes as Russia prepares to bring its new regulated crypto market framework into force on September 1, 2026. The Bank of Russia will decide which cryptocurrencies can be traded through regulated channels. For now, Sberbank's BTC-backed lending model is the foundation, while ETH and USDT remain dependent on regulatory approval and the final lending rules.