Bitcoin won’t be the only crypto asset backing loans at Sber for much longer. This comes after Russia’s largest lender, Sber, announced its intention to accept Tether’s USDt stablecoin and Ether as collateral too, according to comments Deputy Chairman Anatoly Popov gave to media, published on Friday.
Two things stand out in how Popov framed the plan. He described the bank as having prepared well in advance, pointing to existing hands-on experience with crypto products already built into Sber’s operations. Second, the rollout depends on regulatory timing rather than internal readiness. Sber can only add these assets to its collateral list once the Bank of Russia formally clears Bitcoin, Ether, and USDT for public trading, something the central bank proposed doing on August 11, citing each asset’s market size, trading activity, and a track record stretching back at least five years on overseas markets.
This comes against the backdrop of President Vladimir Putin signing the country’s new crypto framework into law on August 4, and its central provisions become active September 1. One key feature of that law hands the Bank of Russia gatekeeping power, letting it decide which digital assets are allowed onto regulated exchanges in the first place.
Popov didn’t stop at describing Sber’s product plans. He also put numbers on how large he expects the newly legal crypto market to grow. TASS media outlet reported the bank’s estimate that regulated exchange trading volume could reach 4 trillion rubles, close to $46.4 billion, within the first year after the law kicks in. Popov also told the outlet in a separate report Saturday that volume could swell to roughly 7.5 trillion rubles, around $87.1 billion, by 2029.
This development follows Sber building toward a crypto wallet feature inside its Sber and Sber Investments apps, paired with a digital asset depository, targeting an early December launch. Since 2025, the bank has given qualified investors access to structured bonds and digital financial assets tied to the prices of Bitcoin and Ether.
