Russia’s Sberbank eyes crypto-backed loans, says regulatory support will be key

Russia’s largest bank, Sberbank, may soon start offering crypto-backed loans as it plans to collaborate with regulators to build the necessary infrastructure.

Anatoly Popov, Sberbank’s Deputy Chairman of the Management Board, has confirmed in a recent interview that the bank is considering new financial instruments that would enable it to issue loans in rubles using crypto assets as collateral.

“We are currently exploring the possibility of lending secured by cryptocurrency,” a translated excerpt from the interview quoted  Popov as saying.

However, he acknowledged that Russia’s regulatory framework governing cryptocurrencies is “still in its infancy,” so the bank will be collaborating with the Russian government to develop “relevant solutions” that would allow it to launch such services in the future.

“I hope we will be able to announce such deals soon,” he added.

While discussing other developments, Popov said that Sberbank has continued to expand financing opportunities and has organized more than 160 digital asset issuances on its proprietary platform since the start of 2025.

Sberbank’s involvement with the blockchain space began as early as 2015 when it launched pilot programs to test the technology, which subsequently led to the development of a dedicated Blockchain Laboratory in 2018.

Since then, its digital asset strategy has only grown stronger, especially after the bank secured a license from the Bank of Russia in March of 2022 to offer and exchange Digital Financial Assets within a regulated environment.

In a separate interview appearance earlier this month, Popov said that the bank was actively monitoring developments across the DeFi ecosystem to assess how DeFi-based products could complement traditional banking services.

Some of the key areas Sberbank is focused on include asset tokenization, which it believes could serve as a bridge between traditional finance and decentralized platforms. Popov further noted that the bank plans to connect with existing DeFi ecosystems instead of developing isolated systems.

With Russia increasingly warming up to crypto as a means to cushion the impact of Western sanctions, Russian financial institutions are already taking steps to position themselves for the transition.

Recently, the Bank of Russia, the country’s central bank, proposed legislative changes that push for expanding access to cryptocurrencies under strict investor protections. It hopes to create a working regulatory framework by July 2026.

Earlier this month, VTB, Russia’s second-largest bank, disclosed plans to allow spot crypto trading for wealthy clients in 2026.