Russia’s banking sector is taking a clear step toward crypto-based finance. Sovcombank has moved Bitcoin-backed lending out of the testing stage and into a live banking product, launching the program in February 2026. The structure allows companies to use Bitcoin as collateral for cash loans, giving mining businesses and technology firms a way to raise funds without selling their BTC holdings.
A lending model built around a 50% collateral threshold
The program is structured with a 50% loan-to-collateral rule. In practical terms, a company pledging $100,000 worth of Bitcoin can borrow up to $50,000. That discount is designed to protect the bank from sharp price swings in the underlying asset. For borrowers, the arrangement preserves exposure to Bitcoin instead of forcing a sale at the moment liquidity is needed.
Loan terms run for as long as two years, and applicants must be companies that have operated in Russia for at least one year. Sovcombank also requires a clean tax record and proof that the pledged BTC was obtained legally. To verify that point, the bank uses specialized tools to check the origin of the coins and review whether the holdings meet compliance standards.
Pricing is tied to the Russian central bank rate
The interest rate is variable rather than fixed. Sovcombank uses the Central Bank of Russia rate and adds 7%. Based on the figures in the source material, the CBR rate stands at 16%, putting the total borrowing cost at roughly 23%. That is expensive funding, but it can still make sense for companies that need working capital quickly while keeping long-term digital asset positions intact. For miners dealing with electricity costs or equipment purchases, this type of financing can cover near-term operating needs.
July 2026 legislation could reshape treatment of BTC on bank balance sheets
According to the source, the Russian government plans to formally classify BTC as a “monetary asset” starting July 1, 2026. That legal change would make it easier for banks to hold and value Bitcoin, and it could broaden the use of BTC-backed lending across the country. For traditional lenders, the shift is not only about adding a new loan product. It also changes how digital assets fit into a regulated financial framework.
The broader pattern described in the report is a move from “mine and sell” toward “mine and hold.” Bitcoin-backed loans sit in the middle of that transition. Companies can keep their BTC exposure while unlocking cash for operations. If other Russian banks follow Sovcombank’s lead, competition around pricing and loan terms in the country’s crypto finance market may start to build.