Russia's largest bank, Sberbank, is preparing to accept cryptocurrencies as collateral for issuing loans

Mars Finance News, according to The Block, Russia’s largest bank Sberbank is planning to launch a corporate loan product collateralized by cryptocurrency. A bank spokesperson stated that this move is driven by strong customer demand and said they are prepared to collaborate with the Central Bank of Russia to develop relevant regulatory frameworks. The plan follows a similar path taken by international banks, such as JPMorgan exploring such products, while Wells Fargo has already provided related services. At the end of last year, Sberbank completed a pilot transaction with mining company Intelion Data, which used self-issued digital currency as collateral. The bank managed the collateral through its proprietary custody infrastructure and Rutoken hardware solutions.