The Russian bank has issued a BTC-collateralized loan to mining company Intelion Data.
Sberbank, Russia’s largest lender, has issued the country’s first loan secured by bitcoin. The financing was granted to Intelion Data, one of the leading bitcoin mining companies operating in Russia, as part of a pilot transaction.
The bank confirmed that the loan was collateralized directly by the BTC mined by the company. However, Sberbank did not disclose specific details such as the size of the loan or the contract’s duration, stressing that the transaction remains at an experimental stage.
In an official statement, the bank highlighted the potential of this type of financial product: “We believe this product will be relevant not only for cryptocurrency miners, but also for companies that own cryptocurrencies.” Sberbank also said it will consider issuing additional loans of this kind if the model proves effective and sustainable.
To ensure the security of the collateral, Sberbank used Rutoken, its proprietary solution for digital asset custody. According to the bank, the system guarantees full protection of the cryptocurrencies throughout the life of the loan, keeping the collateral under the institution’s control until the borrower fully repays the financing.
Timofey Semenov, CEO of Intelion Data, described the agreement as a milestone for Russia’s mining sector. Speaking to RBC, Semenov said the loan represents “a fundamental practical example” of how cryptocurrencies can be effectively integrated into the traditional financial system, signaling that the market is “reaching a new level of maturity.”
“If this form of financing proves effective, crypto-collateralized lending could be expanded and used more broadly across the Russian mining industry,” the CEO added.
Sberbank executives have framed the pilot loan both as a test of an innovative financial product and as a regulatory experiment. Anatoly Popov, the bank’s vice president, noted that Russia’s digital asset regulation is still in its early stages and that this transaction allows Sberbank to assess the legal and technical frameworks required for banking services backed by digital assets.
“This pilot deal allows us to test mechanisms for working with digital security, which could form the basis for future regulation,” Popov said, adding that the bank is ready to cooperate with the Central Bank of Russia to develop appropriate infrastructure and controls.
Popov also revealed that Sberbank already offers structured bonds and digital financial assets linked to bitcoin, ether, and baskets of cryptocurrencies, and is currently testing decentralized finance (DeFi) instruments.
