Sberbank, Russia’s largest bank, is preparing to expand its digital asset-backed lending services. The bank is planning to begin accepting Bitcoin ($BTC), Ethereum ($ETH), and Tether ($USDT) as collateral. According to Russian media, the bank plans to broaden its range of digital assets eligible for collateralized loans. This news comes at a time when Russia is developing regulatory framework for cryptocurrencies. Sberbank is already providing crypto custody services.

Sberbank Prepares to Expand Crypto-Backed Lending

Anatoly Popov, Deputy Chairman of Sberbank’s management board, said the bank already has practical experience with cryptocurrencies. Sing the experience, they are preparing for upcoming regulatory changes. Popov also stated that Sberbank intends to initially accept Bitcoin as collateral before expanding the offering to other major digital assets. Ethereum and Tether stablecoin are also among the first listings.

Popov added that the expansion would depend on the Bank of Russia allowing these assets for public circulation. Sberbank expects to adapt its existing lending products once the relevant provisions of Russia’s new digital asset regulations come into force.

Bitcoin to Lead Sberbank’s Crypto Collateral Plans

Sberbank has already gained experience with crypto-backed lending through a pilot Bitcoin-backed loan. This is limited for its corporate clients at the moment. The initiative provided Sberbank with practical experience in areas such as cryptocurrency custody and lending secured by digital assets. The latest plans will now allow the bank to scale these services forward.

However, the proposed expansion remains subject to regulatory approval. Ethereum and USDT would only become eligible as collateral after the Bank of Russia permits their public circulation. Bitcoin is expected to serve as the initial digital asset for the lending program.

Sberbank’s plans highlight the growing integration of digital assets into Russia’s traditional financial sector as regulators continue developing the country’s cryptocurrency framework. The move will provide Russian businesses with additional financing options by allowing them to use digital asset holdings without immediately selling them. If approved, the framework could position Sberbank as an early participant in crypto-backed lending.