Sberbank Plans to Accept Bitcoin, Ethereum and USDT as Loan Collateral

Russia’s largest bank is preparing to broaden its crypto-lending business. Sberbank Deputy Chairman Anatoly Popov said the lender plans to accept Bitcoin as collateral for loans and to eventually add Ethereum and Tether’s USDT, according to TASS. The move would extend the bank’s earlier pilot work with digital assets, though the wider offering still hinges on approval from the Bank of Russia. The comments signal that the bank intends to make digital-asset-backed borrowing a more regular feature of its business rather than a limited experiment.

Bitcoin First, Ethereum and USDT Later

Popov said Sberbank intends to further develop lending backed by digital assets, with Bitcoin the first crypto asset accepted as collateral. Ethereum and USDT would follow only after the Bank of Russia permits their public circulation, a condition that has not yet been met. The central bank retains authority over which digital assets may circulate publicly in Russia, which is why the Ethereum and USDT components remain conditional. Popov did not specify when the broader set of collateral would become available.

A Gradual Rollout Under Russia’s New Rules

The bank already has practical experience working with crypto assets, Popov said, and will adapt its existing products while gradually expanding the offering once Russia’s new regulatory framework for digital assets fully takes effect. Sberbank has been preparing for this shift for months, having previously outlined a planned off-chain crypto trading system and a crypto wallet as the country’s digital-currency law cleared its final hurdles. The phased approach mirrors how Russian regulators have rolled out crypto rules, testing them in stages before widening access.

What It Means for Crypto-Backed Lending

Accepting bitcoin and stablecoins as loan collateral would deepen the overlap between Russia’s traditional banking sector and digital assets. It suggests Sberbank, which serves a large share of the country’s retail and corporate customers, views crypto collateral as a lasting product rather than a one-off experiment. Even so, the announcement is a statement of intent: the Bank of Russia has yet to authorize public circulation of Ethereum and USDT, leaving the final scope and timing of the lending product open. Sberbank has not said how large the lending book might become or which borrowers would qualify first.