According to DL News, Sberbank, Russia's largest bank, has issued the country's first loan secured by cryptocurrency to major Bitcoin miner Intelion Data. The transaction is positioned as a "pilot" program; the loan size, term, and specific collateral currency have not been disclosed. The related crypto assets are held in custody by Sberbank's proprietary Rutoken escrow service until repayment is complete.
Russia's largest bank, Sberbank, issued the country's first cryptocurrency-backed loan to Intelion Data.
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