Russia's Largest Bank Plans to Launch Cryptocurrency-Collateralized Loans

BlockBeats News, February 6th. According to Reuters, Russia's largest bank Sberbank is preparing to launch cryptocurrency-backed loans for corporate clients. A bank spokesperson stated that this move is in response to strong interest from corporate clients, and the bank is ready to work with the central bank to develop regulatory rules.

Previously, Sberbank issued the first pilot cryptocurrency-backed loan to mining company Intelion Data by the end of 2025, with the collateral being cryptocurrency mined by the company. Currently, the Bank of Russia defines cryptocurrency as foreign exchange assets, allowing trading but prohibiting domestic use for payments. Russia plans to finalize the relevant legislative framework by July 1, 2026. In addition, the Russian bank Sovkombank has already started issuing such loans.