Russian Bank Sberbank Plans to Accept Cryptocurrency as Collateral for Loans

Odaily News Russian bank Sberbank is planning to launch corporate loan products collateralized by cryptocurrency, a move driven by strong client demand. The bank stated it is prepared to collaborate with the Russian Central Bank to establish the relevant regulatory framework. This plan follows a path similar to that of international banks, such as JPMorgan Chase, which is exploring such products, and Wells Fargo, which already offers related services. It is reported that at the end of last year, Sberbank completed a pilot transaction with mining company Intelion Data, where the latter used its self-produced digital currency as collateral, and the bank held the collateral through its proprietary custody infrastructure and Rutoken hardware solution.  （The Block）