Sberbank Seeks Regulatory Approval for Crypto-Backed Lending
Sberbank, one of Russia's largest banks, is planning to expand its crypto-backed lending services. The bank aims to accept Bitcoin (BTC), Ethereum, and Tether's USDT as collateral for loans, pending approval from the Bank of Russia.
This move aligns with Russia's new crypto market framework, which will take effect on September 1, 2026. The framework regulates crypto transactions and limits retail investor access.
Sberbank has prior experience with a Bitcoin-backed loan pilot and is preparing infrastructure for regulated crypto trading and custody. The bank plans to launch these products by December 1, 2026, but only after receiving final regulatory standards.