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.
Summary
- Sberbank plans to accept Bitcoin, Ethereum and USDT as collateral after required regulatory approval arrives.
- Russia’s new crypto market framework takes effect September 1, 2026, under formal central bank supervision.
- Non-qualified investors may purchase 300,000 rubles annually through each intermediary after passing mandatory knowledge tests.
- Sberbank completed a Bitcoin-backed loan pilot with Russian mining company Intelion Data during December 2025.
- Cryptocurrency payments for goods and services remain prohibited within Russia despite the expanded regulatory framework.
However, the proposal remains conditional. 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.”
Sberbank will adapt loans to Russia’s crypto rules
Popov said Sberbank had prepared for the regulatory change and already had practical experience handling cryptocurrency. The bank intends to modify its existing products once every part of the new framework becomes effective.
The statement expands Sberbank’s previous interest in issuing ruble-denominated loans secured by cryptocurrency. Popov said in December 2025 that the bank was assessing crypto-backed lending and working with regulators on the required infrastructure.
Sberbank later completed a pilot Bitcoin-backed loan involving Russian mining company Intelion Data. The borrower pledged mined cryptocurrency as collateral. That transaction gave the bank experience in custody, collateral monitoring and enforcement procedures.
The new statement does not mean customers can immediately pledge ETH or USDT. Sberbank must wait for the Bank of Russia to determine which assets can circulate through regulated intermediaries and qualify for use in banking products.
Russia’s crypto framework starts September 1
Russia’s wider cryptocurrency framework takes effect on Sept. 1, 2026. According to the Bank of Russia, the rules create a regulated market involving banks, brokers, asset managers, crypto exchanges and digital depositories.
Both qualified and non-qualified investors will be able to conduct crypto transactions through approved intermediaries. However, retail access will remain restricted.
Non-qualified investors must pass a knowledge test. They may then purchase up to 300,000 rubles in eligible cryptocurrencies annually through each intermediary. Qualified investors must also pass testing but can access a wider group of assets without the same monetary limit.
Foreign stablecoins will generally face the same requirements as other cryptocurrencies. This provision could cover USDT, although the central bank must still determine which assets satisfy its circulation standards.
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 trading and custody infrastructure
Sberbank is also preparing infrastructure for regulated cryptocurrency trading and custody. The bank aims to launch a digital depository by Dec. 1, 2026, as crypto.news reported.
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 already operates within Russia’s digital financial asset market. It joined the Bank of Russia’s register of approved information system operators in 2022 and has since issued tokenized financial products through its platform.
Sberbank’s plans also remain separate from public blockchain lending protocols. The bank would issue conventional loans and hold cryptocurrency as collateral within a regulated custody structure. It has not announced any integration with decentralized lending platforms.
Regulatory approval will determine the launch
The Bank of Russia must now complete supporting standards covering eligible assets, custody, accounting and customer protection. These rules will determine whether Sberbank can use ETH and USDT as loan collateral.
Market participants have until July 1, 2027, to obtain the necessary licenses and align their operations with the framework. Sberbank’s Dec. 1 infrastructure target falls within that transition period.
Until the regulator approves the assets and Sberbank publishes commercial terms, the expanded collateral offering remains a plan rather than an available product. The bank must also explain how it will value volatile collateral, handle margin requirements and respond when asset prices fall.
