Russia's Largest Bank Accepts Bitcoin as Collateral Starting Today

Russia opens the door to crypto starting today. Sberbank, the largest bank in the country, wants to allow customers to borrow using Bitcoin, Ethereum, and USDT as collateral. The bank expects $46 billion in trading in the first year. But what is actually allowed?

New Russian Law Makes Crypto Trading Legal

Starting September 1, a new law for digital currencies comes into effect in Russia. This law recognizes crypto as property and allows trading through licensed parties: brokers, managers, crypto exchanges, and digital custodians. Exporters and importers can use crypto for cross-border payments without limits.

However, paying with crypto in Russian stores remains prohibited. This is about investing and trading with foreign countries, not daily purchases. Nevertheless, a large new group of buyers is entering the market, which will factor into every long-term Bitcoin price expectation.

For individuals, the rules are strict. They must first pass a knowledge test and can then purchase a maximum of 300,000 rubles per year per intermediary, equivalent to about $3,800. Only the most liquid coins are allowed for purchase, according to the Russian central bank. Exchanges and brokers have until July 1, 2027, to obtain a license.

Sberbank Offers Loans with Bitcoin and Ethereum as Collateral

The most significant Bitcoin news comes from the bank itself. Sberbank wants to lend money to customers using their crypto as collateral. Vice Chairman Anatoly Popov stated that the bank intends to accept not only Bitcoin but also Ethereum and the stablecoin Tether. Approval from the central bank is still needed for USDT and Ethereum.

The idea is not entirely new. In December 2025, Sberbank already provided its first loan with crypto as collateral to Bitcoin miner Intelion Data. The bank stored those coins itself using its own technology. "We prepared for this in advance and already have practical experience with cryptocurrencies," Popov said.

By December 1, a crypto wallet and a digital custody service are expected to be integrated into the Sber apps. The Ethereum news is equally noteworthy, especially since the Ethereum price expectation remains highly divided after a weak year. Ethereum is currently priced around $2,474.

$46 Billion in Trading Expected, Bitcoin Price Remains Steady

Sberbank expects that in the first year, 3.5 to 4 trillion rubles will be traded on licensed Russian exchanges, approximately $46 billion. By 2029, this is expected to rise to 7.5 trillion rubles, about $87 billion. Popov describes these figures as deliberately cautious, as Russians are already trading around 50 billion rubles per day outside of regulatory oversight.

The Bitcoin price is around $78,700, slightly over half a percent higher than the previous day. Thus, there is no significant jump due to this Bitcoin news. Banks that accept crypto as collateral are giving the currency a role that gold and stocks have long held, and this is often cited by investors as fuel for the next crypto bull run.

According to the analyst team at Bitcoin Magazine NL, this is less about the amount and more about the signal. "A state bank that accepts Bitcoin as collateral treats the currency as an asset with a price, not as a gamble. That says more about the future of crypto than any price movement today."

These Data Will Determine Whether the Russian Plan Succeeds

The real work begins after today. Here are the points around which crypto news from Russia will revolve in the coming months:

• December 1, 2026: Sberbank aims to have a crypto wallet and a digital custody service live by then.
• July 1, 2027: The deadline by which exchanges and brokers must have a license.
• Central Bank Approval: Without this step, the Ethereum news regarding collateral remains just a plan on paper, similar to Tether.

If everything goes according to plan, Russia will have a legal crypto market worth tens of billions within a year. This makes this crypto news bigger than just one bank product. For the Bitcoin price, one country is never decisive, but every major bank that accepts crypto as collateral speaks to the future of crypto as an asset.