Russia’s largest lender, Sberbank, is preparing to expand lending secured by digital assets. The bank expects Bitcoin to remain central, while Ethereum and Tether could join later.
The expansion depends on regulatory approval and the full implementation of Russia’s new digital asset framework. Sberbank is also preparing existing banking products for the updated rules.
Anatoly Popov, deputy chairman of Sberbank’s management board, confirmed the direction ahead of the Eastern Economic Forum. He said the bank already has practical experience working with cryptocurrency.
“We prepared for this in advance, and we already have practical experience working with cryptocurrency,” Popov said.
Sberbank Expands Crypto-Backed Lending Strategy
Sberbank intends to continue developing loans secured by digital assets once the new rules become fully effective. The bank has already tested the model with corporate clients.
A previous pilot involved mining company AO Intelion Data and used self-mined cryptocurrency as collateral. That transaction gave Sberbank experience with lending against digital assets.
Popov said the bank would adapt its existing products as legislation comes fully into force. The lender also plans to expand the range of eligible collateral gradually.
“We plan to accept not only Bitcoin but also Ethereum and the stablecoin Tether as collateral,” Popov said.
However, Ethereum and Tether would only become eligible after approval from the Bank of Russia. Public circulation must also be allowed under the final rules.
Bitcoin, Ethereum and USDT Could Enter Corporate Lending
Bitcoin is expected to remain part of Sberbank’s crypto collateral offering. Ethereum and USDT could be added after regulators establish the necessary framework. The proposed model would allow corporate borrowers to pledge digital assets while receiving conventional financing. Borrowers would therefore avoid selling their crypto holdings immediately.
Sberbank is also developing custody services as digital assets gain a larger role in Russia’s financial system. These services could support institutional use of crypto within regulated banking channels.
The lender’s approach reflects a broader shift toward controlled digital asset use rather than unrestricted retail adoption. Meanwhile, Russia continues to permit selected crypto activity under tighter supervision.
Concurrently, the cross-border trade has also increased demand for digital asset infrastructure. Russian institutions have explored crypto settlement methods as access to traditional payment routes remains constrained.
Russia Tightens Crypto Oversight as Banking Use Expands
Russia’s crypto framework is becoming more structured as banks prepare new products with Federal Law No. 282-FZ taking effect on September 1, 2026.
The law introduces reporting requirements for residents holding digital assets through foreign platforms and offshore structures. Residents must report balances, transaction turnover and qualifying foreign holdings.
The final framework does not require residents to submit private keys or raw wallet credentials. Instead, the reporting system focuses on financial information and offshore exposure.
At the same time, the Bank of Russia has expanded enforcement tools linked to suspicious crypto activity. The regulator flagged about 2,600 wallets during the first half of 2026.
Those wallets were added to compliance systems used by banks and law enforcement agencies. The system does not freeze blockchain addresses directly. Instead, banks can identify linked accounts, payment processors, and fiat access points. Consequently, restrictive measures can then be applied within Russia’s banking system.
For more on crypto compliance, check our Best Crypto Compliance Companies and KYC Providers for Web3 Enterprises
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