Russia’s Sberbank Expands Crypto-Backed Lending Beyond Bitcoin as New Regulations Take Effect. Sberbank plans to expand its crypto-backed loans to include ETH and USDT once Russia enacts new regulations governing traded digital assets. Sberbank intends to broaden its crypto-collateralized lending program as Russia prepares to implement new regulations on digital assets. The bank aims to accept Bitcoin, Ether, and Tether’s USDT as collateral for loans after regulatory authorities approve public trading of these assets. Vice President Anatoly Popov stated that the bank will first adapt its existing products before adding additional supported cryptocurrencies. Sberbank is expanding its crypto-backed lending initiative. Sberbank tested Bitcoin-collateralized lending in December 2025, extending a loan to the mining company Intelion Data and holding the Bitcoin collateral through its proprietary custody service. Sberbank did not disclose the loan amount. Subsequently, the lender indicated its intention to offer this service to a broader range of crypto-holding companies. Popov said the bank currently plans to add Ether and USDT once the Central Bank of Russia formally approves them. Russia’s new cryptocurrency law will take effect on September 1, 2026. The law permits regulated intermediaries to facilitate cryptocurrency trading while maintaining a domestic ban on using cryptocurrencies as payment. Market participants have until July 2027 to apply for required licenses. On August 4, President Vladimir Putin signed Federal Law 282-FZ. This law distinguishes the use of digital assets for trading and collateral purposes from their use as a means of payment, establishing a legal foundation for banks to develop crypto-collateralized lending products. Bitcoin, Ether, and USDT Receive Regulatory Endorsement. The Central Bank of Russia included Bitcoin, Ether, and USDT in its draft list of assets permitted for trading on regulated exchanges in August. The central bank selected these assets based on market capitalization, trading activity, and a minimum five-year price history. Sberbank intends to follow this list as it expands its lending services. The bank also aims to launch a regulated digital asset custody system on December 1, 2026, which will support custody, collateral management, and lending. USDT presents an additional risk for Sberbank, as Tether may freeze tokens linked to sanctioned entities. The United States imposed blocking sanctions on Sberbank in April 2022, while the European Union froze the bank’s assets in July 2022. The Central Bank of Russia has also warned that stablecoin issuers may block tokens under unilateral restrictions. Therefore, Sberbank must operate within the framework of both Russia’s cryptocurrency regulations and sanctions-related limitations as it expands its collateral options. By Maxwell Mutuma