Sberbank, Russia's largest bank, is preparing to expand its crypto-backed lending program to include Ethereum and Tether's USDT as collateral alongside Bitcoin. The expansion depends on approval from the Bank of Russia as the country prepares new cryptocurrency market regulations.
Sberbank Deputy Chairman Anatoly Popov announced that the bank plans to accept Bitcoin, Ethereum, and USDT as collateral for loans. However, customers will not immediately have access to all three assets. Sberbank will add ETH and USDT only after the Bank of Russia authorizes them for public circulation.
Existing Pilot Program
Sberbank is not entering the crypto-lending space without prior experience. The bank tested its crypto-backed lending model in December 2025 through a pilot program with Russian mining company Intelion Data. The pilot involved a corporate loan secured by cryptocurrency, with Sberbank using its custody infrastructure to hold the collateral during the loan period. This experience provides the foundation for expanding the program to additional cryptocurrencies.
Regulatory Framework
The expansion aligns with Russia's new crypto market framework, which is set to take effect on September 1, 2026. The Bank of Russia will determine which cryptocurrencies can be traded through regulated channels. The central bank has already proposed Bitcoin, Ethereum, and USDT for regulated exchange trading, based on factors including market size, trading activity, and trading history in overseas markets.
Under the new framework, non-qualified investors will face a 300,000-ruble annual purchase limit per intermediary, subject to passing a required knowledge test. Cryptocurrency payments for goods and services inside Russia will remain prohibited.
