inteliondata

National Team Entrance: Sberbank Launches Bitcoin Loan Pilot, Rutoken Provides Custody Assurance

First Case: Recently, Sberbank completed the country's first cryptocurrency-backed loan. The borrower is Intelion Data, a top mining company with nearly 300 MW of computing power.

Collateral Mechanism: The loan is secured with bitcoins produced by miners. To avoid compliance risks, the assets are managed in a closed loop by Sberbank's proprietary crypto custody platform Rutoken, ensuring that the assets cannot be moved during the loan period.

Compliance Progress: Sberbank's Deputy Chairman Anatoly Popov stated that although Russia's digital asset regulation is still in its early stages, the bank is actively working with the central bank to promote the legalization of DeFi tools and crypto asset portfolios within the legal framework.

XXYY.cc Observation: This move occurs against the backdrop of Russia gradually loosening cross-border payments and legalizing mining. Sberbank's endorsement means that cryptocurrency has become part of Russia's 'sovereign-level' financial infrastructure, and more banks are expected to follow this type of business by 2026.

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