Sberbank Prepares to Offer Cryptocurrency-Backed Loans to Russian Customers
Sberbank, Russia's largest bank, is expanding its services to include cryptocurrency-backed loans. The move allows customers to use Bitcoin (BTC), Ether (ETH), and Tether (USDT) as collateral for loans without having to sell their assets.
According to Anatoly Popov, Vice Chairman of the Management Board, the bank plans to adapt its existing products to a new framework on digital currency and digital rights that will come into effect in September 2026. This legislation will allow non-professional investors to access BTC, ETH, and USDT under certain limits.
Sberbank aims to include more cryptocurrencies in the future, but for now, it's focusing on incorporating ETH and USDT pending authorization from the Bank of Russia. The bank has not disclosed rates, credit limits, or other conditions for these new loans.