In brief
- Sberbank’s Anatoly Popov told TASS that Russian crypto trading could reach about 4 trillion rubles (~$46.43 billion) in the first year under new rules and roughly 7.5 trillion rubles (~$87 billion) by 2029.
- The bank plans to accept Ethereum and USDT as loan collateral alongside Bitcoin—”after the Central Bank, of course, allows them for public circulation.”
- The plans come as Russia’s crypto law takes effect September 1.
Russia’s largest bank expects crypto trading to take off once the country’s new digital asset rules take effect, and it’s preparing to accept Ethereum and Tether’s USDT as collateral for loans.
Sberbank Deputy Chairman Anatoly Popov told state news agency TASS that cryptocurrency trading volumes in Russia…
