Sberbank, Russia's largest lender, is preparing to expand lending secured by digital assets as the country's regulatory framework for crypto takes shape. Bitcoin is expected to be central to the offering, with Ethereum and Tether potentially joining after approval from the Bank of Russia.
Anatoly Popov, deputy chairman of Sberbank's management board, confirmed the bank's direction ahead of the Eastern Economic Forum. "We prepared for this in advance, and we already have practical experience working with cryptocurrency," Popov said.
Testing the Model
Sberbank has already tested crypto-backed lending with corporate clients. A pilot program involved mining company AO Intelion Data, which used self-mined cryptocurrency as collateral. That transaction provided the bank with foundational experience for lending against digital assets.
The expansion depends on full implementation of Russia's new digital asset framework, set to take effect September 1, 2026 under Federal Law No. 282-FZ. Sberbank is also preparing existing banking products to align with the updated rules.
Phased Expansion Plans
Popov stated that the bank plans to accept Bitcoin initially, with Ethereum and Tether to follow. "We plan to accept not only Bitcoin but also Ethereum and the stablecoin Tether as collateral," he said. However, these additions require regulatory approval and public circulation permission under final rules.
The lending model would allow corporate borrowers to pledge digital assets in exchange for conventional financing, enabling them to retain their crypto holdings without immediate sale.
Broader Infrastructure Development
Beyond lending, Sberbank is developing custody services to support institutional use of digital assets within regulated banking channels. The bank's approach reflects a shift toward controlled digital asset use under regulatory supervision rather than unrestricted retail adoption.
Russia's regulatory framework is becoming more structured as the new law introduces reporting requirements for residents holding digital assets through foreign platforms. The Bank of Russia has also expanded enforcement tools, flagging approximately 2,600 wallets during the first half of 2026 for suspicious activity.
