Sberbank, Russia's largest bank, is set to introduce a corporate loan product secured by cryptocurrency, responding to strong customer demand. The bank plans to collaborate with the Central Bank of Russia to establish a regulatory framework for this initiative. This move aligns with global trends, as international banks like JPMorgan Chase and Wells Fargo explore similar offerings.
Last year, Sberbank successfully completed a pilot transaction with Intelion Data, a mining company, using digital currency as collateral. The bank managed the collateral through its proprietary custody infrastructure and Rutoken hardware solution, showcasing its readiness to integrate cryptocurrency into its financial services.
Sberbank to Accept Cryptocurrency as Loan Collateral
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