Russia's largest bank expects crypto trading to accelerate once the country's new digital asset rules take effect, and it is preparing to accept Ethereum and Tether's USDT as collateral for loans.

Sberbank Deputy Chairman Anatoly Popov told state news agency TASS that cryptocurrency trading volumes in Russia could reach as much as 4 trillion rubles, or about $46.43 billion, in the first year, and climb to roughly 7.5 trillion rubles, around $87 billion, by 2029.

Popov described the projection as conservative, saying that a large share of transactions will continue to flow through crypto exchange services that bypass formal exchange trading. He also said the market would not fully mature within a year, because professional participants have until July 1, 2027, to obtain licenses.

Popov also outlined plans to expand Sberbank's crypto-backed lending. "We plan to accept not only Bitcoin but also Ethereum and the stablecoin Tether as collateral," he told TASS, adding that the expansion would come only after the central bank permits those assets for public circulation.

The bank said it prepared early for the rule change and already has hands-on experience with digital assets, having run a Bitcoin-backed loan pilot with mining firm Intelion in December 2025.

The comments come as Russia's crypto framework takes effect September 1. In early August, President Vladimir Putin signed the law establishing rules for crypto trading, custody, and cross-border payments, while keeping a ban on using crypto to pay for goods and services domestically.

The Bank of Russia subsequently published a draft list of assets eligible for public trading, selected by market capitalization, trading volume, and at least five years of price history. Only Bitcoin, Ethereum and USDT made the cut, while tokens such as XRP were left off.

For lenders and borrowers, the regulatory changes create a narrow but clearer path for crypto to be used in finance, especially in markets tied to mining and trading activity. The lending push also reflects demand in a high-rate environment, where Russia's key interest rate stood at 14%. For example, a crypto miner that sells its coins gives up potential upside, while pledging them for credit keeps that exposure intact.

Sberbank has not disclosed loan-to-value ratios, interest rates, or a launch date, saying those details depend on approvals the central bank has yet to grant.