Russia's Sberbank Sees $46 Billion in Crypto Trading, Plans Ethereum and USDT-Backed Loans
Russia’s largest bank expects crypto trading to expand sharply once new digital asset rules start on September 1. Sberbank projects annual trading volume could reach 4 trillion rubles in the first year and rise to 7.5 trillion rubles by 2029, though much activity will likely stay in informal exchange channels. Sberbank also plans to expand crypto-backed lending beyond Bitcoin to include Ethereum and Tether’s USDT, but only after the central bank allows those assets in public circulation. The bank has already tested Bitcoin-collateralized lending with miner Intelion and says it prepared early for the rule change. Russia’s new framework, signed by Vladimir Putin in August, regulates crypto trading, custody, and cross-border payments while keeping domestic crypto payments banned. The central bank’s draft eligible-asset list includes only Bitcoin, Ethereum, and USDT. Sberbank has not disclosed launch timing, pricing, or loan terms.
