Sberbank Prepares to Offer Crypto-Backed Loans in Russia
Russia's largest lender, Sberbank, is gearing up to offer loans backed by Bitcoin (BTC), Ethereum (ETH), and USDT, pending regulatory approval. According to Sberbank Deputy Chairman Anatoly Popov, the bank intends to allow borrowers to pledge these three cryptocurrencies as collateral once the Bank of Russia grants the necessary authorization.
The move is part of Russia's new regulatory framework for digital assets, which distinguishes between using cryptocurrency as an investment or collateral and using it as a payment method. While domestic crypto payments remain prohibited under the country's digital currency law taking effect September 1, companies may use eligible digital assets as loan security, while certain foreign trade transactions receive exemptions.
Sberbank has already completed a pilot program in December 2025 and is targeting December 1 for the launch of a digital asset depository. However, risk management will be central to the proposed lending service, considering that Bitcoin and Ethereum can experience significant price swings, potentially requiring larger collateral haircuts.