Sberbank Expands Crypto-Backed Lending with BTC, ETH, and USDT Acceptance

Sberbank, Russia's largest bank, is set to expand its crypto-backed lending by accepting Bitcoin, Ethereum, and Tether (USDT) as collateral for loans from September 1. This move follows a successful pilot and aligns with new regulations that allow regulated trading and ownership of selected cryptocurrencies.

The bank aims to support corporate clients by enabling them to use digital assets for liquidity without selling them immediately.

However, full implementation depends on custody standards and risk management rules to handle crypto price volatility. The regulated crypto market in Russia is expected to grow significantly, with trading volumes projected to reach up to 7.5 trillion rubles by 2029.