Sberbank Plans Bitcoin, Ethereum and USDT-Backed Loans

Russia’s largest lender, Sberbank, is preparing to accept Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) as collateral for loans as the country introduces a new regulatory framework for digital assets.

Sberbank Deputy Chairman Anatoly Popov told TASS that the bank intends to allow borrowers to pledge the three cryptocurrencies once the Bank of Russia grants the necessary approval for broader circulation.

The plan highlights Russia’s distinction between using cryptocurrency as an investment or collateral and using it as a payment method. Under the country’s digital currency law taking effect September 1, domestic crypto payments remain prohibited. However, companies may use eligible digital assets as loan security, while certain foreign trade transactions receive exemptions.

President Vladimir Putin signed the legislation on August 4. Shortly afterward, the Bank of Russia identified Bitcoin, Ether and USDT as cryptocurrencies meeting its initial eligibility standards. Regulators considered factors including market capitalization, trading volume and at least five years of price history on international exchanges.

Sberbank has not disclosed when its crypto-backed loans could launch or provided details about interest rates and loan-to-value ratios. Popov said the offering remains dependent on additional central bank authorization.

The initiative could appeal to Russian cryptocurrency miners and businesses seeking liquidity without selling their digital asset holdings. Russia’s key interest rate stood at 14% as of August 28, making borrowing costs relatively high and potentially increasing interest in alternative collateral arrangements.

Retail access will remain more restricted. Under the new rules, non-qualified Russian investors face an annual cryptocurrency purchase limit of 300,000 rubles per intermediary, while corporate borrowers are not subject to the same ceiling.

Sberbank already has experience with crypto-backed lending after completing a pilot program in December 2025. The lender is also targeting December 1 for the launch of a digital asset depository.

Risk management will be central to the proposed lending service. Bitcoin and Ethereum can experience significant price swings, potentially requiring larger collateral haircuts. USDT, which is designed to maintain parity with the U.S. dollar, could require different collateral terms.

For now, Sberbank’s Bitcoin, Ethereum and USDT loan plans remain subject to regulatory approval, with no official launch date announced.