Sberbank prepares loans backed by cryptocurrency: Ethereum and Tether on the list

cryptonews.ruPublished on 2026-08-29Last updated on 2026-08-29

Abstract

Sberbank is preparing to expand its cryptocurrency-backed loan program. Initially accepting only Bitcoin as collateral, the bank plans to later include Ethereum and the stablecoin Tether. This expansion, however, is contingent on receiving approval from the Central Bank of Russia for their public circulation. According to Anatoly Popov, Deputy Chairman of the bank's board, cryptocurrency in this scheme serves not as a payment method but as collateral for a traditional banking product. The bank emphasizes the importance of asset liquidity, transparent valuation, and regulatory status before any digital token can be used in such transactions. Sberbank, which already has practical experience with crypto instruments, aims to adapt existing products and expand its offerings once the necessary regulatory norms come into force. This model links traditional bank financing with digital assets, where the collateral provides security for the lender under standard civil law procedures. The approach is distinct from decentralized finance (DeFi) models, with regulatory permission being the key prerequisite, similar to practices in major markets like the European Union.

Sberbank plans to develop loans backed by cryptocurrency and in time will accept not only Bitcoin but also Ethereum and the stablecoin Tether as collateral, said Anatoly Popov, Deputy Chairman of the Bank's Management Board.

What digital assets the bank can accept as collateral

According to Anatoly Popov, the bank intends to expand lending backed by digital assets. Bitcoin remains the basic collateral option, and the bank plans to add Ethereum and the stablecoin Tether later — after the Central Bank permits their public circulation.

For example, we will continue to develop lending backed by digital assets. We plan to accept not only Bitcoin but also Ethereum and the stablecoin Tether as collateral — of course, after the Central Bank permits their public circulation, — said Anatoly Popov.

In such a scheme, cryptocurrency acts not as a means of payment but as collateral for a banking product. For the lender, liquidity, transparent valuation, and the status of each instrument are important: a token in the blockchain must be permitted for public circulation before it can be used in such transactions.

What will change after the regulator's decision

Sberbank already has practical experience working with cryptocurrency instruments and prepared in advance for the updated rules. After the necessary regulations come into force, the bank expects to adapt existing products and expand its range of offerings.

Such a loan essentially links traditional bank financing and a digital asset on the client's balance sheet. The loan is issued according to the usual logic, and the collateral in civil law performs a security function: if obligations are not fulfilled, the bank receives a mechanism to protect its interests.

This concerns precisely a banking product, not the model used by decentralized financial services. For the public circulation of digital assets, regulatory permission remains key; a similar role for admission rules is also important in major external markets, including the European Union.

Sberbank also received a new state function

Earlier, the Russian government designated Sberbank as an authorized bank for settlements with relocants who evade the execution of punishment. The corresponding order came into effect on August 28.

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Related Questions

QWhat new type of loan is Sberbank planning to develop?

ASberbank is planning to develop loans secured by digital assets (cryptocurrencies).

QWhich cryptocurrencies does Sberbank initially plan to accept as collateral, and which ones will be added later?

ASberbank initially plans to accept Bitcoin as the basic collateral. It plans to later add Ethereum and the stablecoin Tether, pending regulatory approval for their public circulation.

QWhat is a key condition from the regulator (Central Bank) for Sberbank to accept additional cryptocurrencies like Ethereum and Tether as collateral?

AThe key condition is that the Central Bank must grant permission for the public circulation of these specific digital assets before they can be used as collateral in such loan schemes.

QHow does a cryptocurrency function within Sberbank's proposed loan structure, according to the article?

AIn the proposed structure, the cryptocurrency acts not as a means of payment, but solely as collateral for the bank product. It provides security for the loan.

QWhat other recent government function was assigned to Sberbank, as mentioned at the end of the article?

AThe Russian government designated Sberbank as the authorized bank for handling settlements with 'relocants'—individuals evading punishment, with the corresponding order effective from August 28th.

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