Sberbank Prepares to Accept Bitcoin as Loan Collateral
Russia's largest bank, Sberbank, is preparing to accept Bitcoin as collateral for loans once the country's new digital asset rules take effect on September 1. The move would allow eligible borrowers to use Bitcoin-backed collateral within the banking system.
The planned policy would bring major cryptocurrencies further into Russia's formal financial system and could expand the ways digital assets are used beyond trading and investment.
Sberbank is expected to begin lending against Bitcoin after Russia's new digital asset rules take effect on September 1. The bank has more than 100 million customers, making it a significant player in Russia's financial system.
Ethereum and USDT could be added as collateral options once they receive approval from Russia's central bank for public circulation.