Russia's Sberbank issues the first Bitcoin-backed loan to a mining company

robot
Abstract generation in progress

On December 29, Russia’s second-largest bank, Sberbank, issued the country’s first Bitcoin-backed loan to major Bitcoin mining company Intelion Data. Sberbank stated that this transaction is a pilot project, with potential for further promotion in the future, but did not disclose the specific loan amount. Sberbank said that the collateral for the loan is the Bitcoin mined by Intelion Data, which is held in custody through its proprietary crypto custody product Rutoken to ensure asset security during the loan term. The bank pointed out that such products are not only suitable for miners but also for enterprises holding crypto assets. Sberbank Vice Chairman Anatoly Popov revealed that the bank has offered structured bonds and digital financial assets linked to Bitcoin, Ethereum, and crypto asset portfolios to clients, and is testing DeFi tools to support the gradual legalization of cryptocurrencies within the Russian legal framework.

BTC-0,29%
ETH-0,59%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)