Sberbank has announced its plans to issue crypto-backed loans to corporate clients in Russia, while also being ready to work with the central bank to develop regulation.
Following this announcement, Russia-based lender Sberbank has announced that is currently preparing to expand crypto-backed lending to corporate clients following a pilot transaction with a crypto-mining company. In addition, the bank has also indicated readiness to collaborate with the central bank on regulatory development for such products.
According to Reuters, in late 2025, Sberbank completed a pilot crypto-backed loan to Intelion Data, a crypto-mining company that provided cryptocurrency as collateral. The size of the transaction was not disclosed, as the bank now plans to extend this service beyond miners to companies holding crypto assets.
Sberbank is not the first Russian lender to enter this segment, as Sovkombank previously began offering crypto-backed loans to clients in Russia.
Regulatory and market context
The Russian central bank classifies cryptocurrencies as foreign exchange assets, and, under current rules, cryptocurrencies may be purchased and sold, but their use for domestic payments remains prohibited. At the same time, the regulator has also set a deadline of 1 July 2026 to finalise a legislative framework governing crypto assets.
Moreover, cryptocurrencies have gained prominence in Russia's economy and foreign trade as Western sanctions, imposed after Russia's military action in Ukraine in 2022, have restricted access to most global currencies. In addition, this initiative has also led to increased use of digital assets in cross-border transactions and corporate treasury operations.
The move by Sberbank follows similar developments among international banks, as JPMorgan has also explored crypto-backed lending products, and Wells Fargo has already begun offering them to select clients. At the same time, the institution is expected to continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
