Sberbank Plans Bitcoin and Ethereum Loan Collateral in Russia

Russia's largest bank, Sberbank, is planning to accept Bitcoin (BTC), Ether (ETH), and Tether (USDT) as collateral for loans. Deputy Chairman Anatoly Popov told TASS that the bank had prepared for the upcoming rule change and was already handling digital assets.

The move is conditional on receiving permission from the Central Bank, which has only recently approved three cryptocurrencies - Bitcoin, Ether, and USDT - for public circulation under strict conditions. These include having a sizeable market capitalization, high daily trading volume, and at least 5 years of price history on foreign exchanges.

The bank's decision is seen as a way to capitalize on the high demand for loans in Russia, where interest rates have reached 14% and money is expensive. Sberbank will not offer these loans to ordinary Russians, however - only corporate borrowers with no annual crypto ceiling will be eligible.