Sberbank to Accept USDT and Ether as Loan Collateral Amid New Russian Crypto Law

Russia's biggest lender, Sberbank, announced that it will broaden its crypto‑backed loan products to accept Tether's USDT stablecoin and Ether (ETH) as collateral, alongside Bitcoin (BTC). The move aligns with the rollout of a new Russian law that creates a regulated crypto market.

Regulated crypto market takes effect

The law, signed by President Vladimir Putin on August 4, 2026, grants the Bank of Russia authority to approve which digital assets may be traded on regulated exchanges. Core provisions began on September 1, 2026. The central bank has proposed Bitcoin, Ether and USDT for inclusion, citing criteria such as market capitalization, trading volume and a minimum five‑year price history on overseas markets.

Sberbank's lending expansion

Deputy Chairman Anatoly Popov said Sberbank will adapt its existing loan products and gradually add USDT and Ether as acceptable collateral once the Bank of Russia authorises their public trading. The bank intends to follow the central bank's asset list.

Digital ruble demand questioned

Sberbank's chief financial officer Taras Skvortsov expressed skepticism about the demand for Russia's central bank digital currency (CBDC), the digital ruble. He noted that neither retail customers, corporate clients nor other financial institutions appear to be actively seeking the CBDC, suggesting interest is limited to the central bank itself.

Outlook

Sberbank's cautious stance on the digital ruble contrasts with its proactive approach to stablecoins and major cryptocurrencies, indicating a strategic focus on assets that meet the new regulatory criteria and have established market depth.