Sberbank Prepares to Accept Ethereum, USDT as Loan Collateral

Russia's largest bank, Sberbank, is expanding its crypto-backed lending beyond Bitcoin. The bank plans to accept Ethereum and Tether's USDT as collateral for traditional loans after the Bank of Russia permits them for public trading.

This move coincides with Russia's new regulated cryptocurrency framework, which will take effect from September 1, 2026. Deputy Chairman Anatoly Popov said Sberbank will adapt its existing products and expand its offerings as the framework develops.

Crypto-backed lending allows investors to obtain fiat currency without selling their cryptocurrency. For example, an ETH holder can pledge Ether to a bank and receive a ruble-denominated loan.

However, volatility creates risk. If ETH falls sharply, the value of collateral may fall below the bank's required loan-to-value ratio, potentially requiring borrowers to provide additional collateral or face liquidation.