Sberbank Expands into Cryptocurrency-Backed Loans

Russia's leading financial institution, Sberbank, is expanding its services to include cryptocurrency-backed loans. The bank will initially accept Bitcoin as collateral, with Ethereum and Tether (USDT) potentially following once authorized by the Bank of Russia.

The move comes as part of a broader effort to develop the country's digital asset market, which is expected to become more regulated under Federal Law No. 282-FZ set to take effect on September 1, 2026.

Sberbank has already gained experience in crypto-secured financing through an earlier trial program with mining firm AO Intelion Data, which utilized cryptocurrency produced through mining operations as loan security.