Sberbank, Russia's largest lender, plans to accept Bitcoin, Ethereum and Tether's USDT as loan collateral once Russia's new digital asset rules take full effect. Anatoly Popov, the bank's deputy chairman, said the lender will expand its crypto-backed lending after the framework becomes fully operational. The expansion depends on Bank of Russia approval for the public circulation of ETH and USDT, along with applicable custody and collateral rules.

Building on Existing Crypto Lending

According to TASS, Popov said Sberbank already has practical experience working with cryptocurrency and plans to adapt its existing products once the new law is fully in force. Bitcoin will not remain the only asset eligible for secured lending: the bank intends to add Ethereum and USDT once regulators permit their public circulation.

The bank has already tested crypto-backed lending with corporate clients. In December 2025, Sberbank completed a pilot loan secured by cryptocurrency mined by Intelion Data, using its Rutoken storage system to safeguard the collateral during the loan period. Popov said Sberbank plans to develop the model further for companies holding digital assets.

Russia Sets Rules for Crypto Market Access

The planned expansion comes as Russia prepares a regulated framework for digital currency activity. The new regime covers buying, selling and holding cryptocurrencies through approved intermediaries. It marks a shift for a country that has long restricted retail crypto activity, moving from a largely unregulated gray zone toward a licensed market with defined investor protections.

Under the framework, non-qualified investors must pass testing and face a 300,000-ruble annual purchase limit. Qualified investors are also subject to testing but are not subject to the same purchase cap.

The Bank of Russia has identified Bitcoin, Ethereum and USDT for public exchange trading, based on criteria including market capitalization, average daily volume and five years of price history. These criteria form the basis for allowing the three assets to enter regulated market activity. Sberbank, however, still requires applicable custody and collateral rules to be in place before expanding its lending products.

Crypto Trading Faces Additional Risk Controls

The Bank of Russia has also proposed rules for crypto assets used as margin collateral, including risk-coverage calculations for leverage levels and forced-liquidation thresholds.

In August, the regulator proposed limits on how cryptocurrencies could count toward prudential requirements. Professional market participants could include approved cryptocurrencies, but their share would remain capped at 25%.

Popov said SberCIB analysts expect Russian crypto trading to reach 3.5 trillion to 4 trillion rubles in the market's first year, a figure that could reach 7.5 trillion rubles by 2029.

Professional market participants have until July 1, 2027, to obtain the required licenses. Crypto remains prohibited for domestic payments, although exporters and importers can use digital assets for cross-border settlements — a carve-out that has drawn interest from Russian businesses facing sanctions-related constraints on conventional cross-border banking channels. Key milestones to watch include the Bank of Russia's decisions on public circulation approval for ETH and USDT and the finalization of custody and collateral rules that Sberbank says it needs before expanding lending.