Sberbank Expands Crypto-Backed Lending to Include Ethereum and USDT
Russia's largest bank, Sberbank, is expanding its crypto-backed lending services to include Ethereum and Tether's USDT as collateral for loans. The move comes as Russia prepares new crypto market rules, but Sberbank's overall offering still depends on approval from the Bank of Russia.
Sberbank Deputy Chairman Anatoly Popov said that the bank plans to accept Bitcoin, Ethereum, and USDT as collateral, building on its existing BTC-backed lending model. However, customers cannot immediately use all three assets as collateral, as Sberbank will add ETH and USDT after the Bank of Russia allows them for public circulation.
The bank has already tested crypto-backed lending with Russian mining company Intelion Data in December 2025, using its custody infrastructure to hold the collateral during the loan period. This experience gives Sberbank a working model for handling crypto as security for traditional loans.