Russia's largest bank, Sberbank, is actively exploring the launch of ruble loans backed by cryptocurrency collateral, marking a significant step in integrating digital assets into the country's traditional financial system. Deputy Chairman Anatoly Popov told TASS the bank is prepared to collaborate with regulators to develop the necessary infrastructure and compliance standards for such services. "I hope we will be able to announce such deals soon," Popov stated, though the timing hinges on the finalization of Russia's broader crypto regulatory framework.
The announcement is part of Sberbank's broader digital asset strategy, which has already seen the bank issue over 160 tokenized products in 2025, spanning real estate, oil, and commodities. The bank has also begun offering regulated crypto-linked investments, including structured bonds and digital financial assets tied to Bitcoin and Ethereum, totaling 1.5 billion rubles.
This development coincides with major Russian stock exchanges preparing for regulated crypto trading. Both the Moscow Exchange and St. Petersburg Exchange have confirmed their readiness to launch trading services once the national legislative framework takes effect by the mandated deadline of July 1, 2026. The exchanges stated they are "actively working on solutions" and have "the necessary technological infrastructure" in place.
The regulatory push is driven by Russia's massive crypto market activity. Between July 2024 and June 2025, Russia recorded $376.3 billion in crypto transaction receipts, surpassing the United Kingdom and establishing itself as Europe's largest crypto market by volume. Large-scale transfers over $10 million grew 86% in that period. A key driver has been the ruble-pegged stablecoin A7A5, which has reached a market capitalization exceeding $500 million.
The proposed regulatory framework, outlined by the Bank of Russia, will divide market access. Non-qualified investors will face an annual purchase cap of 300,000 rubles through a single intermediary and must pass knowledge tests, while qualified investors will have no volume limits but are barred from purchasing anonymous tokens. The full legislative framework is targeted for completion by July 1, 2026, with penalties for illegal crypto intermediaries taking effect a year later on July 1, 2027.
Despite this institutional adoption, government officials maintain that cryptocurrencies "will never become money within our country," as stated by State Duma Committee Chairman Anatoly Aksakov, emphasizing their role solely as investment instruments with all domestic payments required in rubles.
