Sberbank, Russia's largest bank, plans to accept Bitcoin, Ethereum, and Tether's USDT as collateral for loans as the country prepares a new cryptocurrency regulatory framework taking effect on September 1, 2026.

The bank intends to expand crypto-backed lending beyond Bitcoin to Ethereum and USDT. Collateral in Ethereum and USDT will still require approval from the Bank of Russia for public circulation.

Expanded Crypto-Backed Lending Plans

Sberbank Deputy Chairman Anatoly Popov said the bank already has practical experience working with digital assets and plans to adapt its existing lending products once Russia's new regulations are fully in force.

The bank currently plans to launch Bitcoin-backed lending first, before widening collateral options to Ethereum and USDT. Popov said Sberbank had prepared for the regulatory changes and would expand its digital asset services gradually.

Specific loan terms, collateral ratios, fees, and customer eligibility requirements have not yet been disclosed.

Sberbank previously tested Bitcoin-backed lending with the Russian mining company Intelion Data. According to Wu Blockchain, the pilot gave the bank hands-on experience with cryptocurrency custody, collateral monitoring, and lending procedures.

The proposal could allow businesses to obtain financing without immediately selling their digital asset holdings, although market volatility may create additional risks for both borrowers and lenders. Crypto-backed lending itself is an established product category elsewhere: banks and specialized lenders in other jurisdictions already extend credit against Bitcoin and other digital assets, typically applying collateral haircuts and margin calls to manage price swings — mechanics Sberbank would likewise need to address given the volatility of the assets involved.

Russia's New Regulatory Framework

Russia's new cryptocurrency framework is scheduled to take effect on September 1, creating regulated channels for digital asset transactions. Under the framework, the Bank of Russia will oversee eligible assets and the financial intermediaries allowed to participate.

The move builds on earlier steps that permitted select Russian banks to offer regulated crypto services under tighter central bank supervision. It also comes as Russian officials have publicly discussed using digital assets for cross-border trade, a topic that has drawn increased attention since Western sanctions restricted some conventional channels for Russian banks and businesses.

Non-qualified investors will face annual purchase limits of 300,000 rubles through each intermediary, after completing mandatory knowledge testing. Qualified investors will receive broader access to eligible digital assets.

The Central Bank has also considered Bitcoin, Ethereum, and USDT for trading on regulated platforms. The assets reportedly meet proposed criteria covering market capitalization, trading activity, and established overseas price histories.

Cryptocurrency will not, however, become a domestic payment method under the new framework. Russian businesses generally cannot use digital assets to pay for goods and services domestically, though approved cryptocurrency transactions could support certain cross-border settlements.

That distinction reflects Moscow's approach of regulating digital assets while keeping restrictions on domestic crypto payments in place — a pattern consistent with the broader crypto regulation debate across major economies.

Custody Infrastructure in Development

Sberbank is also building cryptocurrency infrastructure, including a planned digital depository targeted for December 1, 2026. The system could support custody and transaction services as Russia develops its regulated crypto market.

For now, the bank's expanded collateral plans remain conditional on regulatory approval. Sberbank must still establish operational requirements before loans backed by Bitcoin, Ethereum, and USDT become broadly available. Key details to watch as the September 2026 start date approaches include the Bank of Russia's decision on Ethereum and USDT circulation approval, the disclosure of collateral ratios and terms, and the launch of the digital depository by year-end.

Source: Live Bitcoin News