Russia's Largest Bank Sber Eyes Ethereum And USDT Loans

Sberbank Moves to Expand Crypto-Backed Lending

Russia's largest bank, Sberbank, is preparing to accept Ethereum ($ETH) and Tether's USDT as collateral for loans, adding to a Bitcoin ($BTC) lending program it already has in place. Anatoly Popov, deputy chairman of Sberbank's management board, disclosed the plans in an August 28 interview with TASS, ahead of the Eastern Economic Forum.

Popov said the bank would only add $ETH and USDT after the Bank of Russia permits their public circulation. Sberbank has not announced a launch date, loan terms, or eligible customer groups.

Sberbank completed a Bitcoin-backed loan pilot with Russian mining company Intelion Data during December 2025. The bank used its custody infrastructure to hold the collateral during the loan period, giving it a working model for handling crypto as security for a traditional loan.

Sberbank is also developing international digital currency settlement capabilities through its SberBusiness application, with Popov saying the bank plans to introduce the service by the end of 2026.

Russia's New Crypto Framework Takes Effect September 1

On August 4, 2026, Vladimir Putin signed the Law on Digital Currencies and Digital Rights, with the legislation taking effect September 1. The law legalizes the trading of crypto assets through regulated exchanges, brokers, and crypto exchanges, but maintains a ban on the use of cryptocurrencies as a means of payment within the country.

Russia's central bank will limit retail crypto trading to Bitcoin, Ether, and USDT on regulated exchanges starting September 1. The Bank of Russia included these three assets based on market capitalization criteria, average daily trading volume, and at least five years of pricing history on foreign platforms. Non-qualified investors face a 300,000-ruble annual purchase limit per intermediary, while qualified investors have no cap.

Sberbank's digital asset custody platform is scheduled for completion by December 1, and will safeguard client cryptocurrency holdings under the emerging legal structure. For Sberbank, the regulatory shift opens a path to offer crypto-native clients liquidity against their holdings without requiring them to sell.

Sources:
Crypto.news: Sberbank plans BTC, ETH and USDT-backed loans
CoinDesk: Russia moves to restrict retail crypto trading to Bitcoin, Ether and USDT
Coinpedia: Sberbank plans BTC, ETH and USDT-backed loans in Russia