MOSCOW, Feb 5 (Reuters) - Russia's largest lender Sberbank is preparing to issue crypto‑backed loans, citing strong interest from corporate clients, and is ready to work with the central bank to
Sberbank to Launch Crypto-Backed Loans for Corporate Clients
Sberbank's Crypto Loan Strategy
MOSCOW, Feb 5 (Reuters) - Russia's largest lender Sberbank is preparing to issue crypto‑backed loans, citing strong interest from corporate clients, and is ready to work with the central bank to develop regulation, the bank's spokesperson told Reuters on Thursday.
Background on Crypto-Backed Loans
In late 2025, Sberbank issued a pilot crypto‑backed loan to a crypto-mining company called Intelion Data which provided collateral in the form of cryptocurrency it had mined. The bank did not disclose the size of the loan.
Regulatory Framework for Cryptocurrencies
Sberbank's domestic rival Sovkombank was the first Russian lender to start issuing crypto-backed loans.
Market Trends and Competitors
Cryptocurrencies are playing a growing role in Russia's economy and foreign trade as transactions in most global currencies are targeted by Western sanctions, imposed after Russia launched military action in Ukraine.
The Russian central bank defines cryptocurrencies as foreign exchange assets, permitting their purchase and sale but prohibiting domestic payments. The regulator plans to finalise a legislative framework for crypto assets by July 1, 2026.
Sberbank said it aims to serve not only miners but also companies holding crypto assets. The decision follows similar moves by global banks with JPMorgan exploring crypto-backed loans while Wells Fargo is already offering them.
(Reporting by Elena Fabrichnaya)
