Russia’s largest bank, Sberbank, is working to offer crypto-backed loans and said on Friday it was ready to develop the necessary regulatory framework in coordination with the country’s central bank, Reuters reported.
The lender already tested the model in January. The bank issued the country’s first bitcoin-backed loan to one of its largest bitcoin miners, Intelion Data, calling the deal a pilot and expressing its willingness to make more loans in the future.
In 2025, the issuance of digital financial assets on the platform will reach 408 billion rubles (approximately $5.3 billion), an increase of 5.6 times compared with 2024 (73 billion rubles, approximately $948 million), and an increase of 204 times compared with 2023 (2 billion rubles, approximately $26 million).
Sberbank’s regulated digital financial assets (DFA) business expanded rapidly in 2025, with total issuance reaching 408 billion rubles ($4.9 billion), more than 5.6 times 2024 levels, while the bank’s own DFA holdings grew sevenfold in six months to 185 billion rubles ($2.2 billion).
This growth comes amid a still-dominated traditional balance sheet: Sber’s corporate loan portfolio stood at 30.4 trillion rubles ($365 billion) in December, its retail loan book stood at 18.8 trillion rubles ($226 billion) and customer deposits stood at 33.1 trillion rubles ($398 billion), underscoring the relatively small but rapidly expanding role of tokenized assets among Russia’s largest lenders.
Announcing the pilot loan, Sberbank Vice Chairman Anatoly Popov said the bank already offers clients structured bonds and investments in digital financial assets such as Bitcoin and Ethereum. Popov also said that the bank is currently testing decentralized finance (DeFi) tools and supports the gradual legalization of cryptocurrencies within the Russian legal framework.
Another major bank, Sovcombank, on February 5 became the first Russian bank to launch cryptocurrency-backed loans to individuals and businesses legally holding Bitcoin.
In December 2025, it reopened the cryptocurrency market to the public under new rules set by the country’s central bank. Officials expect to finalize legislation governing crypto assets by July 1, 2026.
Sberbank said the planned loan program would not only target mining companies, but also businesses with cryptocurrencies on their balance sheets.