According to ChainCatcher, Sberbank, Russia's second-largest bank, has issued the country's first loan secured by Bitcoin to major Bitcoin mining company Intelion Data. Sberbank stated that this transaction is a pilot project and further rollout is possible in the future, but did not disclose the specific loan amount.
Sberbank stated that the loan collateral is Bitcoin mined by Intelion Data, and the assets are held in custody through its proprietary crypto custody product, Rutoken, to ensure asset security throughout the loan term. The bank noted that this type of product is suitable not only for miners but also for businesses holding crypto assets.
Sberbank Vice Chairman Anatoly Popov revealed that the bank has offered customers structured bonds and digital financial assets linked to Bitcoin, Ethereum, and crypto asset portfolios, and is testing DeFi tools to support the gradual legalization of cryptocurrencies within the framework of Russian law.
