Overview
- Russia’s largest lender said it will expand lending secured by cryptocurrency after a pilot with miner IntelionData, targeting companies that hold digital assets rather than only miners.
- The bank is finalizing infrastructure and methodology for scaling the product and signaled readiness to work with the Central Bank of Russia on regulatory solutions.
- Sberbank is also developing crypto custody services that include account‑style safety guarantees and asset‑freezing provisions.
- Sovcombank launched public bitcoin‑backed loans this week for eligible individuals and firms, positioning itself as the first Russian bank to openly offer such financing.
- Regulators classify crypto as foreign‑exchange‑type assets and aim to complete a legislative framework by July 1, 2026, as Sberbank’s DFA activity surged in 2025 with RUB 408 billion in issuances and RUB 185 billion in holdings.