Summary:

• Sberbank, Russia's largest bank, is preparing to issue corporate loans backed by cryptocurrency collateral.
• The planned product follows a pilot transaction with miner Intelion Data in late 2025.
• Sberbank's own blockchain platform saw digital asset issuance grow more than fivefold in 2025.
• The bank says it will work with Russia's central bank to shape a regulatory framework for crypto-backed lending.

Sberbank, the state-owned lender and Russia's largest financial institution, is getting ready to offer a new form of corporate lending that uses cryptocurrency as collateral, according to a report by Reuters. This marks another step in the bank's steadily growing embrace of digital assets and blockchain technology. The bank told Reuters it is responding to strong demand from corporate clients holding digital assets and wants to help mining firms as well as other companies that have built up crypto holdings. Sberbank also said it is prepared to work with the Central Bank of Russia to develop a clear regulatory framework for these new products.

This initiative follows in the footsteps of rival Sovkombank, the first Russian bank to issue crypto-backed loans. It also mirrors global trends that several major international lenders, such as JPMorgan and Wells Fargo, have been exploring or piloting similar products that let clients borrow against digital asset holdings. In Russia's case, crypto-backed lending is emerging as part of a broader move toward integrating digital financial assets into mainstream banking services. The bank's spokesperson emphasized the need to work with regulators to ensure safeguards are in place, a point that reflects broader concerns about risk management, asset valuation and legal clarity in digital asset use.

Rapid growth of digital financial assets on Sberbank's platform

Sberbank's shift toward crypto-based lending comes against a backdrop of rapidly expanding activity on its own digital financial asset (DFA) platform. According to an announcement from Feb. 2, the total value of digital financial assets issued on the bank's platform reached 408 billion rubles (about $5.3 billion) in 2025, a dramatic increase compared with prior years. That figure represents roughly 5.6 times the issuance in 2024, when 73 billion rubles of assets were issued, and 204 times the 2 billion rubles recorded in 2023.

The pace of growth was especially notable in January 2026, when new issuance hit 231 billion rubles (around $3 billion). That single month's volume was more than half of the previous year's total, signaling accelerating adoption and demand. Alongside issuance, the amount of digital assets held on the platform also surged: over six months, holdings grew from 25 billion rubles (about $324 million) to 185 billion rubles (roughly $2.4 billion). The bank's experience with its proprietary blockchain technology and its growing client base appear to be laying the groundwork for more advanced applications of digital assets in credit and corporate finance.

Sberbank has been building toward this moment for years. The bank first signaled its interest in digital financial assets back in November 2020 and received approval in March 2022 to operate as a DFA issuer from Russia's central bank. Its first transaction on the blockchain platform was executed in July of the same year, and the momentum has only increased since.

A broader shift toward blockchain finance

Sberbank's move is part of a broader evolution in how traditional financial institutions interact with digital assets. Once seen primarily as speculative instruments, cryptocurrencies and tokenized assets are increasingly being treated as viable inputs into financing and capital markets.

Crypto-backed lending has practical appeal for companies that hold significant digital assets but may prefer not to liquidate their positions. By accepting crypto as collateral, banks can offer liquidity while the borrower retains exposure to potential price appreciation. Of course, such arrangements also introduce new risks - including the volatility of crypto prices, the need for real-time valuation, and the challenge of managing collateral during sharp market movements.

That is why Sberbank's willingness to coordinate with the central bank is significant. Russia's central bank currently classifies cryptocurrencies as foreign exchange assets, meaning they can be purchased and sold but are not allowed for domestic payments. It has set a deadline of July 1, 2026, to finalize a broader legislative framework for crypto assets. This period of regulatory uncertainty has been a barrier to innovation, and a collaborative approach between banks and regulators could smooth the path for more products like crypto-collateralized loans.

Closings Thoughts

Internationally, banks are watching these developments closely. Institutions such as JPMorgan have been exploring how to offer similar services in a regulated environment, and Wells Fargo has already rolled out products that let corporate clients borrow against digital assets. For Russian corporates, Sberbank's offering could create new options for liquidity and capital management. For the banking system, it represents another step in normalizing digital assets as part of everyday services.