Sberbank issues Russia’s first crypto-secured loan
The largest Russian financial institution by assets, Sberbank, has just started lending against domestically mined cryptocurrency as collateral.
The move comes well ahead of the planned adoption of new legislation expected to comprehensively regulate crypto transactions in Russia next year.
Sberbank pilots crypto-backed lending in Russia
Russia’s top lender, Sberbank, has granted a loan backed by cryptocurrency for the first time since Moscow started legalizing the market.
The corporate loan provided to Intelion has been secured with coins minted by the Russian mining giant, Sber announced Friday.
In a press release published on its website, and quoted by the business news publications RBC and Vedomosti, the bank…
