Russia's largest bank is moving deeper into digital assets. Sberbank has announced plans to expand lending against crypto-asset collateral, committing to support Bitcoin, Ethereum and USDT (Tether) for the first time once updated crypto laws are passed. The initiative aligns with the broader trend of mainstreaming cryptocurrencies within the financial sector while keeping them under regulatory oversight.

Sberbank Broadens Its Crypto Collateral Strategy

Deputy Chairman Anatoly Popov said the bank already has hands-on experience working with cryptocurrency and is prepared to operate under the new regulations.

Sberbank currently treats Bitcoin as a core digital asset for secured lending, and it plans to broaden the range of eligible collateral to include Ethereum and USDT once the Bank of Russia approves them for public circulation.

Under the plan, borrowers would borrow against their digital assets rather than sell them. For institutions or businesses holding large crypto positions, this offers a way to unlock liquidity without giving up market exposure. The move also comes as Russian banks, cut off from much of Western financial infrastructure by sanctions since 2022, have sought alternative channels for payments and settlement, increasing the strategic interest of state-backed institutions in digital-asset products.

New Regulations Could Accelerate Adoption

Russia has been progressively building out its crypto legislation, opening new opportunities for banks and financial institutions to launch digital-asset products. In 2024, Russia introduced an experimental legal regime permitting cryptocurrency use in cross-border payments under central-bank oversight, and legislative work on broader rules for crypto circulation and taxation has continued since. Sberbank intends to adapt its lending terms to the new rules and expand its product lineup, positioning itself for growth in demand for crypto-backed financing as regulatory uncertainty diminishes.

The announcement reflects a wider shift in how major financial companies approach digital assets. Across the industry, banks are exploring practical use cases such as collateralized loans, custody services and settlement, rather than treating crypto purely as a speculative asset class.

Ethereum and USDT Expand the Scope of Crypto-Backed Lending

Ethereum and USDT could significantly extend the reach of Sberbank's lending platform. Ethereum is the world's second-largest cryptocurrency and underpins numerous digital assets and decentralized finance applications. USDT is the most widely used stablecoin globally and plays a strategic role in crypto liquidity; its relative price stability compared with more volatile assets makes it particularly suitable for financial applications. USDT in particular has been widely used in cross-border trade settlement by Russian businesses amid sanctions-related payment constraints, according to multiple reporting on Russian trade flows.

By supporting Bitcoin, Ethereum and USDT, Sberbank would be able to serve a larger institutional and corporate client base with a wider range of collateral portfolios. What to watch next is the passage of the pending crypto legislation and the Bank of Russia's decisions on which assets are approved for public circulation, since Sberbank's expansion is explicitly conditional on both.

Traditional Banking Moves Further into Crypto

Institutions have gravitated toward crypto-backed lending because it allows funds to be released without forcing asset liquidation. This form of lending can open new business lines for banks while preserving risk control through secured loan structures, and it gives borrowers a financing option that maintains their long-term crypto exposure.