Russia’s Sber eyes USDT loans, questions digital ruble demand
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Russia’s largest bank, Sber, plans to accept Tether’s USDT stablecoin and Ether as loan collateral alongside Bitcoin, aligning with Russia’s introduction of regulated crypto trading under a new law. Deputy Chairman Anatoly Popov stated that these assets will be added as collateral once the Bank of Russia permits their public trading. Meanwhile, Sber expresses skepticism about demand for Russia’s central bank digital currency (CBDC), the digital ruble, with CFO Taras Skvortsov noting a lack of clear interest beyond the central bank itself.
Why it matters
The acceptance of USDT and Ether as loan collateral by Sber marks a significant step in Russia’s regulated crypto market rollout, potentially broadening the use of major cryptocurrencies in the country’s financial system. Sber’s cautious stance on the digital ruble signals possible challenges in the adoption of the CBDC among retail, corporate clients, and financial institutions. The source does not elaborate further on the impact of these developments.
Key context
Russia’s new crypto law, signed by President Vladimir Putin on August 4, 2026, provides the Bank of Russia with authority to approve crypto assets for regulated trading. The Bank proposed Bitcoin, Ether, and USDT on August 11 as eligible for regulated exchange trading based on criteria such as market capitalization, trading volume, and historical price data. The law’s core provisions take effect on September 1, 2026, coinciding with the broader rollout of the digital ruble.
Key numbers and entities
Sber (Russia’s largest bank), Deputy Chairman Anatoly Popov, CFO Taras Skvortsov, Bank of Russia, President Vladimir Putin, Tether’s USDT, Ether, Bitcoin, the digital ruble (CBDC). The new crypto law was signed on August 4, 2026, with regulated trading starting September 1, 2026. The Bank of Russia’s proposal for approved assets was made on August 11, 2026.
What remains unclear
The source does not provide details on when exactly Sber plans to start accepting USDT and Ether as collateral, beyond the condition of Bank of Russia approval. It is also unclear how widespread the adoption of crypto-backed loans will be under the new law or how the digital ruble will be positioned amid skepticism. Additional information on regulatory procedures and market reactions is not specified.