Sberbank Grants Russia’s First Crypto‑Backed Loan to Local Miner
Local media report that Sberbank, Russia’s largest bank, has provided a loan to a domestic cryptocurrency miner using digital assets as collateral. The agreement is currently described as a pilot and is the first publicly reported crypto‑backed lending deal for both Sberbank and Russia; the bank has not disclosed loan size, the type of crypto used as collateral, or detailed terms.
The development is notable because it signals a cautious move by a major traditional lender to experiment with crypto instruments, potentially easing liquidity pressure for miners and opening a new lending channel. Observers say broader adoption will depend on how Sberbank manages valuation, custody and regulatory risk during the pilot. Market participants will watch the outcome for clues about future bank‑crypto integration in Russia.