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Sberbank issues Russia's first crypto-backed
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Sberbank issues Russia's first crypto-backed
Sberbank issues Russia's first crypto-backed loan to bitcoin miner Intelion Data
Sberbank issues Russia's first crypto-backed loan to bitcoin miner Intelion Data
Sberbank used its in-house crypto custody tool to back a loan for mining firm Intelion Data, signaling broader interest in crypto lending.
By Olivier Acuna|Edited by Sheldon Reback
Dec 29, 2025, 11:51 a.m.
Russia's majority state-owned bank, Sberbank, issued the country's first crypto-backed loan. (Perituss/Wikimedia Commons modified by CoinDesk)
What to know:
- Sberbank issued Russia's first bitcoin-backed loan to a major bitcoin miner, marking a pilot transaction with potential for future expansion.
- The loan utilized Sberbank's crypto custody product, Rutoken, to secure the bitcoin collateral, ensuring asset safety.
- Sberbank is exploring decentralized finance instruments and supports the gradual legalization of cryptocurrencies in Russia.
Sberbank, Russia’s second-largest bank, issued the country's first bitcoin-backed loan to one of its largest bitcoin miners, calling the transaction a pilot and suggesting it was keen to issue more in the future
“We believe this product will be relevant not only for cryptocurrency miners, but also for companies that own cryptocurrencies,” the bank said in a statement. It did not disclose the loan amount.
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The bank said it used its own crypto custody product, Rutoken, to hold the bitcoin used as collateral for the crypto loan. “The loan was secured by digital currency mined by [Intelion Data]. This guarantees the assets’ safety during the loan period,” Sberbank said.
According to RBC Crypto, IntelionData CEO Timofey Semenov said the loan is an important practical example for the industry and an indicator that the market is reaching a new level, which, if proven effective, could be scaled up and used in the Russian mining industry.
Anatoly Popov, Sberbank's deputy chairman, said the bank already offers clients structured bonds and digital financial assets with investments in bitcoin, ether ETH$2,927.19 and cryptocurrency baskets, the Russian news outlet added. Popov also said the bank is currently testing decentralized finance (DeFi) instruments and supports the gradual legalization of cryptocurrencies within the Russian legal framework.
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South Korean financial group Mirae Asset eyes crypto exchange Korbit acquisition: report
The financial group is in talks to acquire a 92% stake in Korbit for a as much as 140 billion won ($97 million).
Ano ang dapat malaman:
- Seoul-based Mirae Asset is considering buying South Korean cryptocurrency exchange Korbit.
- The financial group is in talks to acquire a 92% stake for as much as 140 billion won ($97 million).
- The exchange is the fourth-largest in terms of trading volume out of the six incorporated in South Korea.
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