Sberbank, Russia’s largest financial institution by assets, is reportedly finalizing preparations to launch a service that will allow customers to take out loans using digital financial assets (DFAs), including cryptocurrencies, as collateral. This development marks a significant move toward incorporating digital assets into mainstream banking operations within Russia. According to local media sources, the proposed lending product aims to mitigate risk for the bank by utilizing crypto holdings stored on Sber’s regulated blockchain platform as security against fiat currency loans. The initiative is primarily focused on institutional clients in the initial phase, though expansion to retail customers is anticipated. Sberbank has been actively involved in the digital asset space since receiving registration as a DFA operator from the Central Bank of Russia. This offering is seen as a key step in leveraging the bank’s technological infrastructure while adhering strictly to Russia’s existing digital finance regulations.
Source: Russia’s largest bank prepares to issue loans using crypto as collateral: report
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