Sberbank, Russia's largest bank, issues its first Bitcoin mortgage loan.

According to Odaily, Russia's largest bank, Sberbank, has issued the country's first loan secured by crypto assets to Intelion Data, a major local Bitcoin mining company. Sberbank stated that the loan is secured by digital currency mined by Intelion Data, but did not disclose the loan amount, the quantity of collateral, or the term, defining it as a "pilot" operation.

Sberbank pointed out that such products are not only suitable for mining companies but may also be promoted to enterprises holding crypto assets. The bank used its own crypto asset custody solution, Rutoken, in the transaction to ensure the safety of the collateral assets during the loan period. Anatoly Popov, Vice Chairman of Sberbank, stated that Russian digital asset regulation is still in its early stages, and the bank is willing to cooperate with the central bank to improve relevant rules and use this pilot project as a reference for future regulation and infrastructure development. Timofey Semenov, CEO of Intelion Data, said that this transaction is an important practical case for industry development, and if successful, it may be further promoted in the Russian mining sector. (DL News)