Russia’s largest bank, Sberbank, is preparing to expand its cryptocurrency-backed loan products by accepting Ethereum (ETH) and Tether (USDT) as collateral alongside Bitcoin (BTC).
According to Russian news agency TASS, Sberbank Deputy Chairman of the Board Anatoly Popov said the bank would continue developing lending products secured by digital assets. Popov noted that Sberbank already has practical experience working with cryptocurrencies.
Sberbank Plans to Expand Crypto-Backed Loans
Popov said Sberbank would adapt its existing products once Russia’s new cryptocurrency regulatory framework fully takes effect. The bank would then gradually expand its digital asset-related services in line with the new rules.
Under Sberbank’s plans, Bitcoin would not be the only cryptocurrency eligible for use as collateral. Ethereum and the dollar-backed stablecoin Tether could also be added to the bank’s cryptocurrency-backed lending products in the future.
However, implementation will depend on regulatory approval. Popov said the Russian Central Bank would specifically need to permit ETH and USDT to circulate publicly before they could be accepted as loan collateral.
This is not investment advice.
