Sberbank to Accept Bitcoin, Ethereum and USDT as Loan Collateral

Sberbank, the biggest bank in Russia, said it will accept Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) as collateral for loans. The move follows the adoption of a new Russian law that regulates digital assets, which took effect on September 1.

Collateral, Not Currency

Deputy chairman Anatoly Popov clarified that the bank will treat the cryptocurrencies as security, not as a form of payment. Under the law, spending crypto within Russia remains banned, even though using it as pledged collateral is permitted.

Regulatory Conditions

The Central Bank of Russia must first approve the use of each asset for public circulation. In its first approved list, the regulator selected only three coins—Bitcoin, Ethereum and USDT—based on criteria such as market size, daily turnover and a minimum five‑year price history on foreign exchanges.

Loan Terms and Market Context

Sberbank did not disclose specific loan‑to‑value ratios, interest rates or a launch timetable, linking any rollout to future central‑bank permissions. The bank’s key interest rate stood at 14% in late August, making borrowing costly and potentially driving demand for crypto‑backed financing.

Restrictions for Retail Investors

The new law caps non‑qualified investors at holding roughly 300,000 rubles (about $3,600) of crypto per year per intermediary, while corporate borrowers face no such limit.

Operational Outlook

Sberbank previously ran a crypto‑backed lending pilot that concluded in December 2025 and aims to launch a digital depository by December 1. The bank will need to manage liquidation of pledged assets in a jurisdiction where direct crypto spending is illegal.