Russia’s Largest Bank Opens Door to Bitcoin, Ethereum and USDT-Backed Loans

Russia’s largest lender, Sberbank, is preparing to expand lending secured by digital assets. The bank expects Bitcoin to remain central, while Ethereum and Tether could join later.

The expansion depends on regulatory approval and the full implementation of Russia’s new digital asset framework. Sberbank is also preparing existing banking products for the updated rules.

Anatoly Popov, deputy chairman of Sberbank’s management board, confirmed the direction ahead of the Eastern Economic Forum. He said the bank already has practical experience working with cryptocurrency.

“We prepared for this in advance, and we already have practical experience working with cryptocurrency,” Popov said.

Sberbank Expands Crypto-Backed Lending Strategy

Sberbank intends to continue developing loans secured by digital assets once the new rules become fully effective. The bank has already tested the model with corporate clients.

A previous pilot involved mining company AO Intelion Data and used self-mined cryptocurrency as collateral. That transaction gave Sberbank experience with lending against digital assets.

Popov said the bank would adapt its existing products as legislation comes fully into force. The lender also plans to expand the range of eligible collateral gradually.