Russia's largest bank Sberbank has officially announced plans to accept Bitcoin, Ethereum and Tether's USDT as collateral for loans after receiving required regulatory approval. Deputy Chairman Anatoly Popov confirmed the bank's preparedness, stating "We prepared for this in advance, and we already have practical experience working with cryptocurrency." The bank will initially accept Bitcoin as the primary digital asset for collateralized loans before expanding to other major cryptocurrencies. As reported by TASS, Sberbank has not announced a launch date, loan terms, or eligible customer groups for these expanded offerings. The announcement marks a pivotal moment for digital asset integration within traditional banking, with the bank positioning itself to adapt its products as Russia's regulatory framework evolves.
Russia's comprehensive cryptocurrency framework takes effect on September 1, 2026, creating a regulated market under formal central bank supervision. President Vladimir Putin signed the law on August 4, with the Bank of Russia publishing its first approved list a week later. Only three coins cleared the regulatory screen: Bitcoin, Ethereum, and USDT. Regulators specifically sought size, high daily turnover, and at least 5 years of price history on foreign exchanges, with Bitcoin, Ether, and USDT meeting these criteria. According to the Bank of Russia, the rules establish a framework involving banks, brokers, asset managers, crypto exchanges and digital depositories. Under the new regulations, non-qualified investors may purchase up to 300,000 rubles annually in eligible cryptocurrencies through approved intermediaries after passing mandatory knowledge tests. The central bank will recognize Bitcoin, Ethereum, and USDT for public exchange trading after conducting selection based on market capitalization, trading volumes, and longstanding foreign-market price data.
Market participants have until July 1, 2027, to obtain necessary licenses and align operations with the new framework. The Bank of Russia must complete supporting standards covering eligible assets, custody, accounting and customer protection before Sberbank can proceed with ETH and USDT collateral offerings. According to Sberbank's corporate and investment banking arm SberCIB, digital asset trading volumes in Russia could reach between 3.5 trillion and 4 trillion rubles within the first year of legalization, with estimates suggesting this figure could grow to 7.5 trillion rubles by 2029 as more participants enter the market. However, ordinary Russians will not get the option - the new crypto law caps non-qualified investors at 300,000 rubles (roughly $3,632) of crypto per year per intermediary, while corporate borrowers face no such ceiling. The framework does not legalize cryptocurrency as a domestic payment method - payments for goods and services in Russia remain prohibited, though exporters and importers may use cryptocurrency for cross-border settlements under specific guidelines.
According to the Bank of Russia framework, both qualified and non-qualified investors will be able to conduct crypto transactions through approved intermediaries, though retail access remains restricted. Foreign stablecoins will generally face the same requirements as other cryptocurrencies, which could cover USDT. However, the framework does not legalize cryptocurrency as a domestic payment method - payments for goods and services in Russia remain prohibited, though exporters and importers may use cryptocurrency for cross-border settlements under specific guidelines. The proposed model would allow corporate borrowers to pledge digital assets while receiving conventional financing, allowing them to avoid selling their crypto holdings immediately. As reported by TASS, the bank plans to offer crypto-backed loans to corporate clients under the new rules, with the dual-track system preserving the ruble's role in day-to-day commerce while leveraging digital assets for broader financial flexibility.
As reported by TASS, Sberbank has already completed a Bitcoin-backed loan pilot with Russian mining company Intelion Data during December 2025, using its proprietary Rutoken storage system to safeguard the collateral. The bank is also preparing infrastructure for regulated cryptocurrency trading and custody, targeting a digital depository launch by December 1, 2026. This planned system will record customer ownership, manage wallets and support deposits, withdrawals and settlements. The bank is also developing custody services as digital assets gain a larger role in Russia's financial system, which could support institutional use of crypto within regulated banking channels. Popov stated that the bank is prepared to adapt its existing products once the legislation comes fully into force.
