Sberbank Set to Offer Crypto-Backed Loans Following Successful Pilot

Sberbank is gearing up to provide corporate loans secured by cryptocurrency, following a successful pilot program and substantial asset issuance.

According to recent reports, Sberbank, Russia's largest financial institution, is preparing to launch corporate loans backed by cryptocurrency. This development comes after a successful pilot phase that demonstrated the viability of crypto as loan collateral.

Additionally, the bank's asset issuance on its platform has surged, reaching an impressive total of $5.3 billion, indicating a growing acceptance of digital currencies within traditional finance.