Sberbank, Russia’s biggest state-owned lender, is advancing plans to offer corporate loans secured by digital assets. The bank intends to expand beyond its earlier Bitcoin pilot to include Ethereum and the stablecoin USDT, subject to final regulatory approvals.

Anatoly Popov, deputy chairman of Sberbank’s management board, confirmed the strategy ahead of the Eastern Economic Forum. He noted that the bank has already gained practical experience with cryptocurrency collateral and is preparing existing products for the updated legal framework.

The expansion coincides with Russia’s comprehensive cryptocurrency regulations scheduled to take effect on September 1, 2026. Under the new rules, the Bank of Russia will authorize public exchange trading of selected digital assets, including Bitcoin, Ethereum and USDT, based on market capitalization, trading volumes and established price data from foreign markets.

Pilot Experience and Expansion Plans

Sberbank completed a pilot transaction with mining company AO Intelion Data. In that deal, the firm pledged self-mined cryptocurrency as collateral. The bank employed its proprietary custody system and a Rutoken hardware solution to secure the assets during the loan period.

Popov indicated that the bank sees scope to extend these secured loans to a wider group of corporate clients holding digital assets, not limited to mining operations. Ethereum and USDT will become eligible only after the Bank of Russia grants approval for their public circulation.

The bank is also developing custody services to support institutional use of digital assets within regulated channels. This approach aims to let corporate borrowers obtain conventional financing while retaining ownership of their crypto holdings.

Regulatory Framework and Investor Limits

Russia’s new rules require investors to work through registered intermediaries. Non-qualified investors must complete testing and face an annual purchase limit of 300,000 rubles with each approved intermediary. Qualified investors face no explicit purchase cap but must still pass competency tests.

Licensed market professionals and brokers may accept cryptocurrencies as collateral for margin trading. However, contributions of digital assets to risk-weighted assets are capped at 25 percent to limit overall exposure. Market participants have until July 1, 2027, to obtain licenses for crypto operations.

Federal Law No. 282-FZ, effective September 1, 2026, introduces reporting obligations for residents who hold digital assets through foreign platforms or offshore structures. Residents must report balances, transaction turnover and qualifying foreign holdings. Private keys or raw wallet credentials are not required.

The Bank of Russia has also expanded enforcement tools. In the first half of 2026, the regulator flagged approximately 2,600 wallets linked to suspicious activity. These addresses feed into compliance systems used by banks and law enforcement, enabling restrictions on linked accounts and fiat access points within the domestic banking system.

Market Projections and Operational Boundaries

SberCIB, the corporate and investment banking division of Sberbank, estimates that digital asset trading volumes in Russia could reach 3.5 trillion to 4 trillion rubles in the first year of legalization. The figure may climb to 7.5 trillion rubles by 2029 as participation and activity increase.

Domestic use of cryptocurrencies for payments remains prohibited. Cross-border crypto settlements for importers and exporters are permitted under specific guidelines. This structure maintains the ruble’s role in everyday transactions while allowing digital assets a role in corporate finance and international trade.

Regulatory authorities continue to strengthen risk controls, including stricter custody standards, margin requirements and liquidation thresholds, as crypto and traditional banking become more interconnected.

Sberbank’s preparations position the lender to play a significant role in integrating digital assets into Russia’s corporate lending market under the forthcoming regulated framework.