Russia’s Sberbank considers launching crypto-backed loans
Russian financial services giant Sberbank may soon start offering loans secured by cryptocurrency, one of its top executives unveiled.
The news comes right after the monetary authority in Moscow published a plan for the regulation of digital asset transactions in Russia, including the provision of related services.
Sberbank hopes to lend fiat using crypto as collateral
Known now as Sber, Russia’s largest bank by assets, is exploring the possibility of lending rubles in return for cryptocurrencies, the local press reported.
According to the Deputy Chairman of its Management Board, Anatoly Popov, the bank is currently considering options for providing loans against crypto as collateral.
The majority state-owned bank…
