Key Highlights
- Sberbank may soon offer loans backed by cryptocurrencies like Bitcoin and Ethereum for ruble loans.
- The bank has issued 160+ digital assets this year, including Russia’s first real estate- and oil-backed tokens.
- Russia plans to classify cryptocurrencies as “currency assets” and allow retail investors access by 2026.
Russian financial services giant Sberbank is exploring the possibility of offering loans secured by cryptocurrency, one of its top executives revealed.
Anatoly Popov, the bank’s Deputy Chairman of the Management Board, told TASS that the bank is actively exploring the possibility of lending rubles against crypto assets and is ready to work with regulators to build the necessary infrastructure.
“We are currently exploring the possibility of lending secured by cryptocurrency. In Russia, crypto market regulation is still in its infancy, and we are ready to collaborate with the regulator in developing relevant solutions and creating the infrastructure for launching such services. I hope we will be able to announce such deals soon,” Popov said.
Sberbank, the largest bank by assets within the country, has been actively extending its digital assets platform. They have managed to enable more than 160 issuances of digital financial assets, DFAs for short, within the first months of this year alone. These include DFAs that represented bonds for real estate and oil within Russia for the first time.
If approved, Sberbank’s crypto-backed loans could let customers use Bitcoin or Ethereum as collateral for fiat loans, giving people and businesses more ways to use their digital assets without selling them.
Other banks are exploring similar ideas. For example, Alfa-Bank recently launched a fuel-backed digital asset, turning gasoline into a token as part of a loyalty and financing program.
Russia’s evolving crypto regulations
Sberbank’s plan for crypto loans is the latest move in Russia’s efforts to create more clarity over the regulations for digital assets.
This is because the Central Bank of Russia has proposed draft regulations that are expected to be adopted by 2026, which include the recognition of cryptocurrencies and stablecoins as “currency assets.” These rules will be available to retail clients, not just the most qualified investors, though crypto is still considered a high-risk asset.
The Bank of Russia has proposed rules classifying cryptocurrencies and stablecoins as monetary assets while banning their use for domestic payments.
Unqualified investors would face a 300,000 ruble annual limit and need to pass a test to trade the most liquid assets. While qualified investors could trade most non-anonymous coins without limits. The legislation is expected to be finalized by mid-2026, with penalties for illegal crypto intermediaries coming in 2027.
A few days ago, Russia reinforced this approach by officially banning crypto payments, requiring all domestic transactions to be conducted in rubles. Officials, including Anatoly Aksakov of the State Duma, stressed that coins like Bitcoin and Ethereum can only be used for investment, not as legal tender.
Also Read: Russian Officials Say Crypto Mining Is Quietly Boosting the Ruble