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– Sberbank plans to issue loans secured by Bitcoin, Ether, and USDT once Russias cryptocurrency legislation takes effect.

In Russia, there is a distinction between the use of cryptocurrency as collateral and the ban on its use for domestic payments.

The product still needs to be approved by the Central Bank; the launch date has not been disclosed.

Sberbank plans to accept Bitcoin (BTC), Ether (ETH), and Tether (USDT) as collateral for loans, Deputy Chairman of the Management Board Anatoly Popov told TASS on Friday.

The countrys largest bank intends to use cryptocurrency as collateral, rather than as a means of payment. Payments with cryptocurrency remain prohibited in Russia following the September 1 entry into force of the law on digital currencies.

A Russian company can pledge Bitcoin to a bank as collateral, but it still cannot use it to buy a cup of coffee. Popov noted that Sberbank prepared for the new rules in advance and is already working with digital assets. However, he set a condition for expanding this practice.

We want to accept not only Bitcoin but also Ether and the stablecoin Tether as collateral after the Central Bank, of course, gives the green light for their circulation among the public, local media reported. , “detected_source_language”: “EN

On August 4, President Vladimir Putin signed the law. A week later, the Bank of Russia published the first approved list. Only three cryptocurrencies met the requirements.

Regulators set requirements regarding market size, high daily trading volume, and a minimum of five years of trading history on international exchanges. Bitcoin, Ether, and USDT passed the screening. The rest did not, and the regulator clearly stated its position on the others.

“”,”detected_source_language”:”RU

Cryptocurrency cannot be used for payments within the Russian Federation. An exception for cryptocurrency payments in foreign trade applies only to exporters and importers.

As of August 28, the key interest rate stands at 14% , which makes money expensive in Russia, and this factor explains the demand. A miner can sell their coins and lose out on potential growth, or pledge them as collateral and pay interest.

Meanwhile, ordinary Russians will not have this option. Russias new crypto law limits the amount of cryptocurrency that retail investors can hold to 300,000 rubles (approximately $3,632) per year per broker. There is no such limit for corporate borrowers.

Popov did not disclose the loan-to-value ratio, the interest rate, or the launch date. He attributed this to permits that the Central Bank has not yet issued.

The current offering is on a smaller scale. Sberbank completed a pilot project on cryptocurrency-backed lending in December 2025 and plans to launch a digital custodial service by December 1.

It is noteworthy, however, that USDT is a subtle exception, remaining at $0.9999, while the Bitcoin exchange rate fluctuates daily. One coin needs a small haircut, while another needs a significant one.

In the event of a borrowers default, Sberbank will be forced to sell these coins in a country where their use is prohibited by law.”,”detected_source_language”:”RU