Russia’s Sberbank is preparing to offer corporate clients loans secured by cryptocurrency assets, responding to growing demand from businesses that hold digital currencies on their balance sheets.
Sberbank, the country’s largest lender, said it is laying the groundwork to roll out crypto-backed financing products and is ready to coordinate closely with the central bank on the necessary regulatory framework. A spokesperson confirmed that interest from corporate borrowers has been strong, prompting the bank to accelerate its plans.
The strategy is not entirely new. In late 2025, Sberbank completed a pilot transaction by extending a crypto-backed loan to Intelion Data, a cryptocurrency mining firm that pledged digital assets it had mined as collateral. While the bank did not disclose the loan’s value, the deal marked a key test case for using crypto assets within Russia’s traditional banking system.
Competition in this niche is already heating up. Domestic rival Sovkombank became the first Russian lender to formally introduce crypto-backed loans, setting a precedent that larger institutions are now following.
Cryptocurrencies have taken on increased importance in Russia’s economy and foreign trade, especially as transactions in many global currencies face restrictions due to Western sanctions imposed after Moscow’s military action in Ukraine. As a result, businesses are increasingly turning to digital assets as alternative stores of value and tools for cross-border activity.
Regulation remains a central issue. Russia’s central bank classifies cryptocurrencies as foreign exchange assets, allowing their purchase and sale while banning their use for domestic payments. The regulator has said it aims to complete a comprehensive legal framework for crypto assets by July 1, 2026—a timeline that banks like Sberbank are watching closely.
Looking ahead, Sberbank says its ambition goes beyond serving crypto miners alone. The lender plans to support a broader range of companies that already hold cryptocurrencies, aligning itself with global trends. Internationally, banks such as JPMorgan have explored crypto-backed lending, while Wells Fargo has already introduced similar products—signaling that digital assets are steadily moving into mainstream corporate finance.
