Sberbank plans to accept Bitcoin, Ethereum and Tether's USDT as loan collateral as Russia prepares to launch a new regulated cryptocurrency market on September 1.

Anatoly Popov, deputy chairman of Sberbank's management board, outlined the bank's plans to expand lending secured by digital assets as it adapts its existing products to the incoming framework. Sber intends to support Bitcoin, Ethereum and Tether as collateral once the regulatory requirements governing their circulation take effect, according to TASS. The move positions Russia's largest lender — itself a major operator of digital financial infrastructure, including its blockchain platform and digital ruble participation — at the front of the country's shift from a largely restricted crypto environment toward a regulated market.

Expanding Crypto-Backed Lending

Sberbank has been preparing its lending infrastructure ahead of the regulatory shift and intends to broaden the range of digital assets it accepts as security in stages. Bitcoin already forms part of the bank's crypto-collateral strategy, while Ethereum and USDT are included in the planned expansion.

The Bank of Russia has placed all three assets on the public-circulation list for exchange trading under the new framework, applying criteria such as market capitalization, average daily trading volume and at least five years of pricing history on foreign markets, per the central bank's announcement. The criteria effectively narrow the permitted list to the longest-established, most liquid assets, limiting retail-facing exposure to the three tokens already dominant in global trading.

The move follows an earlier Russian regulatory proposal that would restrict non-qualified investors primarily to Bitcoin, Ethereum and USDT, while qualified investors would gain broader access to cryptocurrencies available through regulated markets.

Intelion Pilot Tested Crypto as Loan Security

Sberbank tested the model in December 2025 through a corporate loan issued to mining operator AO Intelion Data. The collateral consisted of cryptocurrency mined using Intelion's own computing infrastructure, the company reported. The pilot builds on Russia's legalization of industrial crypto mining in late 2024, which gave mining firms a legal basis to hold and monetize mined assets.

To secure the collateral during the loan period, Sber used its own cryptocurrency custody technology together with a Rutoken hardware solution. The pilot provided the bank with a working model for holding digital assets while they remain pledged against conventional corporate credit. Popov said at the time that the structure could eventually serve companies holding crypto assets beyond the mining sector.

Russia's Crypto Framework Starts September 1

Russia's new cryptocurrency law takes effect on September 1, establishing regulated channels for buying, selling and holding digital currencies through brokers, management companies, exchanges and digital repositories. The framework upholds Russia's ban on domestic crypto payments while permitting cryptocurrency use in cross-border settlements — a carve-out Russian officials have discussed as relevant for foreign trade flows.

The legislation followed the State Duma's earlier crypto bill vote, which established the licensing structure and a 300,000-ruble annual purchase limit per intermediary for non-qualified investors. Professional market participants have until July 1, 2027 to obtain licenses and bring their operations into compliance.

Sberbank plans to adapt its existing products as the September 1 framework comes into force and to expand its crypto-backed lending lineup as the remaining regulatory provisions become operational.