Russia's largest bank is ready to accept ether and the stablecoin USDT as collateral for loans — a step that looks like an unexpected turn in the relationship between traditional finance and digital assets.
Sberbank Deputy Chairman Anatoly Popov told TASS that the bank plans to expand its line of crypto-collateralized products after the Bank of Russia permits public circulation of these assets. Earlier, Sber already issued its first such loan to mining company Intelion Data backed by bitcoin in December 2025.
The new law on digital currencies takes effect on September 1, 2026. It allows trading through regulated intermediaries but retains a ban on using cryptocurrency for payments within the country. The Bank of Russia has included bitcoin, ether, and USDT on the list for public circulation — assets with sufficient capitalization, trading volume, and price history.
For Sberbank, which is under sanctions, this is a way to diversify risks and attract clients who already work with crypto. Unlike stablecoins with an issuer, bitcoin and ether do not carry the risk of account freezes. According to the bank's estimates, the volume of regulated cryptocurrency trading in Russia could reach 4 trillion rubles in the first year alone.
Interestingly, USDT here acts as a more stable collateral option compared to volatile ether and bitcoin. This allows the bank to minimize fluctuations in the value of collateral while maintaining the product's appeal to borrowers.
Much remains unclear: specific loan terms, loan-to-value ratios, and launch timelines depend on the regulator's final approvals. Market participants need to obtain licenses by July 2027.
In the end, Sberbank is not just following the trend — it is embedding cryptocurrency into familiar banking mechanics, turning digital assets from a speculative tool into a working financial lever for those willing to play by the new rules.
