Sberbank Issues First Crypto-Backed Loan to Russian Bitcoin Miner

Sberbank has made history by issuing Russia's first corporate loan backed by cryptocurrency collateral. The bank extended financing to Intelion Data, one of Russia's biggest Bitcoin mining companies, in a pilot transaction that uses mined digital assets as security.

The loan amount and duration were not disclosed, but Sberbank secured the digital assets using its proprietary Rutoken custody solution, which locks collateral throughout the loan period to prevent unauthorized access or use.

Deputy Chairman Anatoly Popov noted that digital currency market regulation remains in early stages in Russia and that the bank is prepared to work with the Central Bank of Russia to develop regulatory frameworks and infrastructure for similar services.