Sberbank, Russia’s largest bank, is considering a cryptocurrency-backed loan product that would allow it to lend in rubles with digital assets as collateral.
Sberbank Vice Chairman Anatoly Popov said that the bank is ready to cooperate with regulators in this field and remains in contact to build the necessary infrastructure.
Popov noted that as the adoption of crypto assets in the financial sector increases, such products could create new opportunities for both retail and institutional customers. In the planned model, customers will be able to obtain ruble loans by using digital assets as collateral, thus gaining liquidity without having to sell their crypto assets.
Sberbank’s management emphasizes the importance of risk management, custodial services and price volatility protection mechanisms for the successful introduction of these products. The bank is particularly focused on solutions that minimize the impact of cryptocurrency market volatility on loan repayments.
Popov said the goal is to have formal discussions with regulators and begin a testing program in the near future. As Russia continues to debate the legal status of crypto assets, Sberbank’s move could mark a significant turning point in the country’s financial sector’s approach to digital assets.
Experts say that if crypto-backed loans become a reality, it will expand the range of innovative products in the Russian banking sector and further integrate crypto asset owners into the traditional financial system. This initiative is seen as part of Sberbank’s digital transformation strategy, and the market is closely monitoring its developments.
*This is not investment advice.
