Sberbank, Russia's largest bank, is reportedly preparing to broaden its crypto-backed lending business by accepting ether (ETH) and Tether's USDT stablecoin as collateral, in addition to bitcoin. According to reporting summarized by CoinDesk, the plan is tied to Russia's evolving digital-asset rules and would take effect as new regulations are fully implemented.
The move follows a regulatory step by Russia's central bank. The Bank of Russia recently included ETH and USDT in a draft list of cryptocurrencies approved for public trading on Russian exchanges, according to CoinDesk. That draft list matters for banks because it helps define which assets can be handled within the country's regulated perimeter, rather than only through offshore venues or over-the-counter channels.
Bitcoin.com News reported the same development, describing Sberbank's intention to expand crypto-backed lending to accept bitcoin, ether and tether as collateral once the new regulations take full effect. Neither report, as available, spelled out final loan terms, collateralization ratios, liquidation thresholds, or which categories of clients would be eligible.
Crypto-backed lending, in general terms, allows a borrower to pledge digital assets in exchange for a loan denominated in fiat currency or another asset, without selling the collateral. Lenders typically require the loan to be over-collateralized because crypto prices can move sharply, and they usually reserve the right to liquidate pledged assets if the collateral value falls below a set level. Adding a dollar-pegged stablecoin such as USDT to a collateral list is notable because stablecoins are designed to hold a steady value, which changes the risk profile of the pledged asset relative to volatile tokens like bitcoin or ether — though stablecoins carry their own issuer, reserve and redemption risks.
The bank's own analysts have signaled they expect meaningful volumes from Russia's regulated crypto market. SberCIB, Sberbank's investment banking arm, forecast up to roughly $46.4 billion in first-year regulated crypto trading in Russia, potentially rising to about $87.1 billion by 2029, according to crypto.news. Those are projections, not results, and such forecasts depend heavily on how the final rules are written and enforced.
The development sits alongside other Russian crypto policy activity. Separately, crypto.news reported that Russian authorities blacklisted roughly 2,600 crypto wallets. Taken together, the reports point to a state approach that is simultaneously building out legal, bank-intermediated crypto services while tightening surveillance and restrictions on wallets and flows it considers illicit. Russia's banking sector also remains subject to extensive international sanctions, which limits how far any domestic crypto offering can connect to global markets and counterparties.
For context on market conditions at the time of the reporting, CoinDesk's price data showed bitcoin trading near $78,000, ether around $2,450, XRP near $1.37 and solana around $102, with major tokens broadly flat to slightly lower over 24 hours. Those levels change constantly and should be checked against live data.
Several important details remain unconfirmed in the available reporting. It is not clear from the reports when the expanded collateral options would launch, whether they would be limited to institutional or qualified investors, how the bank would custody pledged assets, or how it would price and margin them. Because the plan is described as contingent on regulations taking full effect, the timeline could shift if implementation is delayed or if the central bank's approved-asset list changes before it is finalized.
Readers should treat all of the above as reported news rather than confirmed corporate policy, and note that regulatory announcements of this kind do not guarantee any particular market outcome or price movement. This article is informational only and is not financial, investment, legal or tax advice.
This is a news summary for general information only — not financial advice, and nothing here is a recommendation to buy, sell, or hold any asset. Always verify against the original source and do your own research before making a financial decision.
Source: CoinDesk · 2026-09-01
