Sberbank wants to accept additional ETH and USDT as collateral for loans
🏦 Russia’s largest bank expands into crypto
Sberbank is preparing to expand its loan products backed by digital assets. Alongside Bitcoin (BTC), the bank wants to add Ethereum (ETH) and Tether (USDT) to the list of assets that can be used as collateral.
According to TASS, Sberbank’s First Vice President Anatoly Popov said the bank already has practical experience with crypto and will continue developing related products.
📜 Await a new legal framework to take effect
Sberbank plans to adjust its existing products under Russia’s new crypto legal framework, and then gradually expand its services.
💰 ETH and USDT still need regulators to give the green light
The plan cannot be implemented immediately. According to Popov, the Bank of Russia needs to allow ETH and USDT to be publicly issued before Sberbank can officially accept them as collateral.
If approved, Sberbank will no longer rely solely on Bitcoin in the crypto-backed mortgage lending segment.
🏦 Russia’s largest bank expands into crypto
Sberbank is preparing to expand its loan products backed by digital assets. Alongside Bitcoin (BTC), the bank wants to add Ethereum (ETH) and Tether (USDT) to the list of assets that can be used as collateral.
According to TASS, Sberbank’s First Vice President Anatoly Popov said the bank already has practical experience with crypto and will continue developing related products.
📜 Await a new legal framework to take effect
Sberbank plans to adjust its existing products under Russia’s new crypto legal framework, and then gradually expand its services.
💰 ETH and USDT still need regulators to give the green light
The plan cannot be implemented immediately. According to Popov, the Bank of Russia needs to allow ETH and USDT to be publicly issued before Sberbank can officially accept them as collateral.
If approved, Sberbank will no longer rely solely on Bitcoin in the crypto-backed mortgage lending segment.
