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.
