Sberbank is exploring crypto-backed ruble loans in Russia, aligning with recent regulatory moves. The bank’s vice chairman said the initiative is under review, with coordination needed. Over 160 digital assets are already listed, including tokenized real estate. The model would let borrowers use Bitcoin or Ethereum as collateral for ruble loans, a first for Russian banks. The Central Bank of Russia recently outlined a framework for crypto, recognizing digital assets as 'value of money' but banning daily payments. The framework includes a dual investor system, limiting retail traders. Russia’s crypto market hit $376 billion in transactions in the past year, making it Europe’s largest. Sberbank’s move could boost liquidity without forcing users to sell crypto. Regulators have warned of risks and volatility, stressing caution. The initiative could also support Countering the Financing of Terrorism efforts by improving oversight. As EU Markets in Crypto-Assets Regulation influences global standards, Russia’s approach may signal a broader shift in how digital assets are integrated into traditional finance.
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