Sberbank plans to expand its crypto-backed lending business by accepting Bitcoin, Ethereum and Tether's USDT as collateral, Deputy Chairman Anatoly Popov told TASS on Aug. 28, though the proposal remains conditional on regulatory approval.
Conditional on Central Bank Approval
Popov said the Russian bank would only add ETH and USDT after the Bank of Russia permits their public circulation. Sberbank has not announced a launch date, loan terms or eligible customer groups. "We plan to accept not only Bitcoin but also Ethereum and the stablecoin Tether as collateral," Popov said. He added that the expansion would begin only "after the Central Bank, of course, allows them for public circulation."
Russia's Crypto Framework Starts September 1
Russia's wider cryptocurrency framework takes effect on Sept. 1, 2026. The rules create a regulated market involving banks, brokers, asset managers, crypto exchanges and digital depositories. Non-qualified investors must pass a knowledge test and may then purchase up to 300,000 rubles in eligible cryptocurrencies annually through each intermediary. Qualified investors face testing but can access a wider group of assets without the same monetary limit.
The framework does not legalize cryptocurrency as a domestic payment method. Payments for goods and services in Russia remain prohibited. Exporters and importers may use cryptocurrency for cross-border settlements under the applicable rules.
Sberbank Builds on Pilot Experience
Sberbank completed a Bitcoin-backed loan pilot with Russian mining company Intelion Data during December 2025. The borrower pledged mined cryptocurrency as collateral, giving the bank experience in custody, collateral monitoring and enforcement procedures. The bank intends to modify its existing products once every part of the new framework becomes effective.
Trading and Custody Infrastructure Underway
Sberbank is also preparing infrastructure for regulated cryptocurrency trading and custody. The bank aims to launch a digital depository by Dec. 1, 2026. The planned system would record customer ownership, manage wallets and support deposits, withdrawals and settlements. Sberbank has not yet confirmed which cryptocurrencies the platform will support or disclosed its fees and withdrawal limits.
The Bank of Russia must complete supporting standards covering eligible assets, custody, accounting and customer protection. Market participants have until July 1, 2027, to obtain the necessary licenses and align their operations with the framework. Until the regulator approves the assets and Sberbank publishes commercial terms, the expanded collateral offering remains a plan rather than an available product.
