December 29 – Russia’s second-largest lender Sberbank has issued the country’s first Bitcoin-backed loan to major Bitcoin mining firm Intelion Data. The bank labeled the transaction a pilot project that could be expanded later, though it did not disclose the specific loan amount. Sberbank noted the loan collateral consists of Bitcoin mined by Intelion Data, which is held in custody via its proprietary crypto custody service Rutoken to secure the assets for the loan term. The bank added such offerings are suitable for both miners and enterprises holding crypto assets. Anatoly Popov, Sberbank’s Deputy Chairman, revealed the bank has offered clients structured bonds and digital financial assets tied to Bitcoin, Ethereum, and a portfolio of crypto assets. It is also testing DeFi tools to support the gradual legalization of cryptocurrencies within Russia’s legal framework.
