Russia's largest bank, Sber, is preparing to expand its crypto loan collateral beyond bitcoin to include Tether's USDT stablecoin and ether. The bank previously listed bitcoin as its only crypto collateral option. Anatoly Popov, the bank's deputy chairman, said the move will follow the implementation of Russia's new cryptocurrency law and requires central bank approval for public trading of these assets. President Vladimir Putin signed the law on August 4, with key provisions taking effect on September 1, granting the central bank authority to decide which crypto assets can be traded on regulated exchanges. On August 11, the central bank proposed allowing bitcoin, ether, and USDT on such venues, citing their market cap, trading volumes, and at least five years of overseas price history. In the meantime, Sber's chief financial officer, Taras Skvortsov, took a cautious stance on the digital ruble, a central bank digital currency, saying he sees no notable interest from retail or corporate clients outside the central bank itself.
Russia's largest lender, Sber, wants to add Tether's USDT and ether to the list of crypto assets it accepts as loan collateral. Bitcoin is currently the only crypto the bank takes for that purpose. Deputy Chairman Anatoly Popov said the expansion will roll out gradually under Russia's new cryptocurrency law, pending central bank approval for those assets to trade publicly.
Popov made the statement as Russia's crypto regulatory framework is taking shape. President Vladimir Putin signed the law on August 4, and its core provisions took effect on September 1. The law grants the central bank the power to determine which crypto assets may trade on regulated exchanges.
On August 11, the central bank put forward a proposal to allow bitcoin, ether and USDT on regulated exchanges, saying the assets meet criteria including market capitalization, trading volume and at least five years of overseas price history.
Sber's chief financial officer, Taras Skvortsov, sounded a cautious note on the digital ruble. He said he sees no notable interest in the central bank digital currency from retail or corporate clients, beyond the central bank itself.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
