Russia's Sberbank Plans Bitcoin and USDT Loans, Questions Digital Ruble Demand
Sberbank, Russia's largest bank, plans to accept Bitcoin, Ether and Tether's USDT as loan collateral once the central bank permits public trading of the assets. The bank also questions demand for Russia's digital ruble, which begins wider rollout on September 1.
Sberbank plans to accept crypto as loan collateral
Anatoly Popov, deputy chairman of Sberbank's management board, said the bank plans to accept Bitcoin, Ether and Tether's USDT as loan collateral. He spoke to Russian news agency TASS on 28 August 2026. Sberbank is Russia's largest bank by assets. The move would expand its crypto lending beyond Bitcoin alone. The lender will add Ether and USDT only after the Bank of Russia authorises the two assets for public circulation.
"We plan to accept not only Bitcoin but also Ethereum and the stablecoin Tether as collateral", 28 August 2026. — Anatoly Popov, Deputy Chairman, Sberbank
Russia's crypto law takes effect on September 1
President Vladimir Putin signed the country's crypto-trading law on 4 August 2026. The law creates Russia's first licensed framework for regulated crypto trading. Its core provisions take effect on 1 September under Bank of Russia supervision. On 11 August, the central bank proposed Bitcoin, Ether and USDT as the assets eligible for regulated exchange trading. Non-qualified retail investors may buy eligible cryptocurrencies up to 300,000 rubles, about $3,700, each year through one intermediary. Qualified investors face no annual cap. Retail buyers must first pass a mandatory knowledge test. Market participants have until 1 July 2027 to obtain the required licences.
The law limits crypto payments inside Russia
The law restricts cryptocurrencies as a means of payment. Residents cannot use them to settle domestic transactions. Companies may still use crypto for cross-border settlements under foreign trade contracts. Exporters and importers may settle through intermediaries or directly from their own wallets. They must report those transactions and pay tax on them.
A December pilot gave the bank lending experience
Sberbank completed a Bitcoin-backed loan pilot with Russian mining company Intelion Data in December 2025. It was the bank's first Bitcoin-backed loan. The borrower pledged mined cryptocurrency as collateral. The test gave the bank practical experience in custody, collateral monitoring and enforcement. Popov said Sberbank will adapt its existing products before it broadens its crypto services.
Bitcoin and Ether trade below their record highs
Bitcoin traded at $77,623 at the time of publication, down 0.7% over the previous 24 hours (CoinPaprika, 31 August 2026). Ether traded at $2,419, down 1.5% over the same period (CoinPaprika, 31 August 2026). Bitcoin stood about 39% below its October 2025 record, and Ether about 51% below its August 2025 peak. The two tokens rank first and second by market value. Bitcoin's 24-hour trading volume reached about $19.7 billion (CoinPaprika, 31 August 2026).
Sberbank questions demand for the digital ruble
Sberbank has taken a cautious view of the digital ruble, Russia's central bank digital currency, or CBDC. The Bank of Russia issues and controls the digital ruble, which begins a wider rollout on 1 September. According to Cointelegraph, Chief Financial Officer Taras Skvortsov said retail clients, corporate clients and financial institutions are not pushing to use the CBDC. Sberbank has not set a public launch date for Ether and USDT lending.
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