Sberbank plans to expand its crypto-backed lending program as Russia prepares to implement new rules for digital assets. The bank intends to accept Bitcoin, Ether, and Tether's USDT as loan collateral once regulators approve public trading of those assets. Deputy Chairman Anatoly Popov said the lender will adjust its existing products before adding more supported cryptocurrencies. The move positions Russia's largest state-owned bank to compete in a crypto-collateral lending niche already offered by banks and specialized lenders in other jurisdictions, such as Switzerland and parts of the United States.

Sberbank Expands Crypto-Backed Lending Plans

Sberbank has already tested bitcoin-backed lending. In December 2025, the bank issued a loan to mining company Intelion Data and held the bitcoin collateral through its own custody service. The loan value was not disclosed. The choice of a mining firm as the first borrower reflects the size of Russia's crypto mining sector, which the government began regulating with registration requirements in late 2024.

The lender later said it wanted to offer the service to more companies that hold cryptocurrency. Popov said the bank now plans to add ether and USDT once the Bank of Russia gives formal approval.

Russia's new crypto law takes effect on September 1, 2026. The law allows regulated intermediaries to support cryptocurrency trading while keeping domestic crypto payments banned. Market participants have until July 2027 to secure the required licenses.

President Vladimir Putin signed Federal Law 282-FZ on August 4. The law separates the use of digital assets for trading and collateral from their use as payment, giving banks a legal basis for developing crypto-backed lending products.

Bitcoin, Ether and USDT Gain Regulatory Support

The Bank of Russia included Bitcoin, Ether, and USDT in an August draft list of assets that could trade on regulated exchanges. The central bank based its selection on market value, trading activity, and at least five years of price history. Whether that draft list is finalized, and in what form, is one of the main regulatory milestones to watch before Sberbank's expanded collateral program can launch.

Sberbank plans to follow that list as it expands its lending service. The bank also aims to launch a regulated digital asset depository by December 1, 2026. That system would support custody, collateral management, and lending.

USDT carries a different kind of risk for Sberbank because Tether can freeze tokens linked to sanctioned entities. The United States imposed blocking sanctions on Sberbank in April 2022, and the European Union froze its assets in July 2022.

The Bank of Russia has also warned that stablecoin issuers can block tokens under unilateral restrictions. Sberbank must therefore operate within both Russian crypto rules and sanctions-related limits as it expands its collateral options.