Sberbank has conducted a pilot loan secured by cryptocurrency mined by Russia’s Intelion Data, the bank has said.

Sberbank used its own Rutoken cryptocurrency storage solution in the transaction, which guarantees the asset’s safety during the loan period. Intelion is an active participant in formulating the regulations and development guidelines for Russia’s industrial crypto mining industry, and also holds a leading position in AI development within the industrial crypto mining operator market

Anatoly Popov, Sberbank’s Deputy Management Board Chairman, said, “Regulating the digital currency market is in its infancy in Russia. We are ready to collaborate with the Central Bank of Russia to develop the relevant regulatory…