Huo Xing Finance reports that Russia’s largest bank, Sberbank, plans to expand its crypto-backed lending collateral to include Tether’s USDt stablecoin and Ethereum, following此前 only supporting Bitcoin. Deputy Chairman Anatoly Popov stated that the bank will gradually roll out these products after Russia’s new crypto law takes effect and await approval from the Central Bank of Russia for public trading of these assets. President Putin signed the crypto law on August 4, with key provisions taking effect on September 1, granting the Central Bank authority to determine which crypto assets may be traded on regulated exchanges. On August 11, the Central Bank proposed permitting Bitcoin, Ethereum, and USDT to be traded on regulated exchanges, citing their compliance with requirements such as market capitalization, trading volume, and at least five years of overseas price history. Meanwhile, Sber’s CFO Taras Skvortsov expressed caution regarding the digital ruble, stating that he has not observed significant interest from retail or corporate customers in the CBDC outside the Central Bank.
Russia's Sber to Accept USDT and Ethereum as Loan Collateral
MarsBitShare
Summary
As reported by MarsBit, Russia’s largest bank, Sber, is expanding its loan collateral to include USDT and Ethereum, in addition to Bitcoin. Deputy Chairman Anatoly Popov stated that the bank will add other altcoins to its watchlist after the new crypto law takes effect and receives approval from the Central Bank. President Putin signed the law on August 4, with key provisions set to begin on September 1. On August 11, the Central Bank proposed permitting Bitcoin, Ethereum, and USDT on regulated exchanges, citing their market capitalization and five-year price history. Data from the Fear and Greed Index indicates growing retail interest. Sber CFO Taras Skvortsov noted minimal demand for the digital ruble outside Central Bank circles.
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