What’s Sberbank’s Strategy for Crypto-Backed Loans?
Sberbank, the largest state-owned bank in Russia, is at the forefront of a pilot program designed for loans backed by cryptocurrencies, according to Deputy Chairman Anatoly Popov. This initiative aims to incorporate cryptocurrencies such as Bitcoin and Ethereum into conventional banking services, signifying a substantial transformation in Russia’s financial framework. The pilot program intends to improve financial accessibility and connect traditional banking with digital assets.
Popov pointed out the necessity of regulatory cooperation, saying, “We are currently exploring the possibility of lending secured by cryptocurrency. In Russia, crypto market regulation is still in its infancy, and we are ready to collaborate with the regulator…
