The lender has been expanding its crypto strategy, including experimenting with decentralized finance instruments.
Sberbank has extended Russia’s first crypto-backed loan to Intelion Data, one of the country’s largest bitcoin miners. The pilot deal uses bitcoin mined by Intelion as collateral, positioning digital assets as working capital rather than passive holdings on a balance sheet.
Sberbank used its in-house digital custody product, Rutoken, to safeguard the bitcoin collateral through the loan period. According to the bank, the pilot transaction demonstrates how crypto-backed lending could operate within regulated frameworks without compromising asset security.
The bank did not reveal the loan’s value but emphasized that the model could extend beyond the mining industry. “We believe this product will be relevant not only for cryptocurrency miners, but also for companies that own cryptocurrencies,” Sberbank said in a statement, describing the structure as a practical step toward bridging blockchain assets and traditional finance.
Intelion Data’s CEO, Timofey Semenov, called the loan a significant milestone for Russia’s crypto and mining ecosystem. Speaking with RBC Crypto, Semenov said that, if successful, this model could scale and become a financing standard for mining firms.
Sberbank has recently deepened its involvement in digital assets beyond custody solutions. Sberbank is experimenting with decentralized finance (DeFi) instruments and supports the gradual legalization of cryptocurrencies in Russia.
