Sberbank Eyes ETH and USDT as Collateral for Loans Amid Regulatory Approval

Sberbank, one of Russia's largest banks, plans to accept Ether (ETH) and Tether's USDT as collateral for loans, alongside Bitcoin. The move is conditional on Russian regulators approving these assets for public circulation.

According to Deputy Chairman Anatoly Popov, Sberbank will work with ETH and USDT as collateral once they are permitted for public circulation. This proposal overlaps with the Bank of Russia's draft approach to public exchange trading, which identified Bitcoin, Ethereum, and Tether USDT as eligible cryptocurrencies.

The proposed addition would broaden Sberbank's collateral universe beyond Bitcoin. However, neither Popov's comments nor the draft list establish the commercial structure of Sberbank's planned loans, including whether an investor's qualification status would affect access to collateralized borrowing.

Sberbank has already tested Bitcoin-backed lending with its loan to mining company Intelion Data in December 2025. The bank used its own custody product and Rutoken to hold the collateral for that transaction, but it did not disclose the loan amount.