Sberbank, Russia's largest bank, plans to accept bitcoin, ether, and tether as collateral for loans, according to Anatoly Popov, deputy chairman of its management board. The expansion will follow implementation of Russia's new cryptocurrency regulations and the central Bank of Russia's admission of these assets to public trading.
Popov disclosed the lending plans in an Aug. 28 interview ahead of the Eastern Economic Forum. The bank intends to adapt its existing products to meet new regulatory requirements before gradually expanding its digital asset offerings.
Earlier Pilot Provided Operational Experience
Sberbank issued its first crypto-backed loan in December 2025 to Intelion, a Russian industrial cryptocurrency mining company, as part of a pilot program. The transaction tested digital assets as loan security and provided operational experience before broader rollout.
The pilot used Sber's internal systems and the Rutoken hardware platform to receive digital collateral. Neither the loan amount nor specific cryptocurrency pledged was disclosed. Crypto-backed borrowing allows an asset holder to obtain financing while retaining ownership of pledged cryptocurrency, provided collateral requirements remain satisfied.
Bank of Russia Names Three Eligible Cryptocurrencies
The Bank of Russia designated bitcoin, ether, and tether as among the cryptocurrencies eligible for public exchange trading under proposed rules released Aug. 11. The central bank screened candidates based on market capitalization, daily trading volume, and at least five years of price history on foreign venues.
Russia's broader crypto law is scheduled to take effect Sept. 1, establishing regulated roles for exchanges, brokers, custodians, and asset managers. The State Duma passed the legislation in July, and President Vladimir Putin signed it Aug. 4. The law creates rules for cryptocurrency trading, custody, and cross-border transactions while retaining the prohibition on domestic crypto payments.
Popov said Sberbank could broaden its collateral list after every provision of the new regulation becomes effective.
