Sberbank has issued Russia’s first loan secured by cryptocurrency: the loan was granted to a mining company, and the digital assets were accepted within the bank’s system using the Rutoken hardware solution. This operation is part of the bank’s pilot project but is already seen as a precedent for similar future deals. Reports also note that similar formats could be applied not only to miners but also to other companies holding digital assets.
Russia’s First Loan Secured by Cryptocurrency Collateral
According to media sources, Sberbank, the country’s largest bank, issued a loan accepting cryptocurrency as collateral — marking the first recorded case of this format in Russia. The deal was conducted in pilot mode, and the bank described it as an experiment that could be scaled if successful. The loan amount and the specific cryptocurrency used as collateral were not publicly disclosed.
Deal Details and Participants
The loan was granted to Intelion, which positions itself as a leader in industrial mining and operates large data centers. The bank partially disclosed details of the operation, including the method of transferring digital collateral into its system and the use of Rutoken for hardware storage.
- The loan was issued to Intelion — a company focused on industrial mining and operational client support.
- Intelion claims to serve over 1,500 clients and operates approximately 35,000 devices in its data centers.
- The bank confirmed that the digital collateral was received within Sberbank’s own infrastructure using Rutoken as the hardware solution.
Additional coverage is available in our article on Sberbank issuing a cryptocurrency-backed loan, where we present the same facts about the deal and its significance for the industry.
Reactions and Outlook
Intelion CEO Timofey Semenov described the deal as an "important practical case for the industry," noting that if proven effective, the format could be scaled within the mining sector. Sberbank indicated that similar operations might be in demand by other companies holding digital assets who want to use them as collateral without selling the assets.
The bank views this experience as a pilot that could later be expanded to a larger number of corporate clients — provided the technological and legal sustainability of the scheme is confirmed.
Regulatory Changes in Russia
Alongside banking pilots, regulatory initiatives are underway to organize the crypto market: the Bank of Russia has proposed a new framework allowing non-qualified investors to invest in crypto assets. These proposals broaden the discussion about the role of digital assets in the country’s financial system and their accessibility.
For a broader overview of regulatory requirements, see materials on cryptocurrency regulation in Russia, which compile current limits and requirements.
Why This Matters
For miners of any scale (from one to a thousand devices), the news means that the country’s largest bank has confirmed the viability of accepting digital collateral. This opens an alternative financing path: instead of selling coins, miners can consider taking loans secured by storing cryptocurrency within the bank’s infrastructure.
However, the format is still in pilot phase, so direct opportunities for all miners remain limited — adaptation of accounting processes, ownership verification, and technological storage will be required. An important detail: the deal used Rutoken hardware storage, emphasizing the importance of secure custodial practices.
What to Do?
If you mine in Russia and manage from one to a thousand devices, it’s useful to prepare for potential access to loans secured by digital collateral. Prepare basic documents proving asset ownership and storage methods, clarify your bank’s requirements for collateral transfer, and pay attention to hardware key solutions.
- Verify and document ownership rights of coins and their origin to expedite bank verification.
- Evaluate private key storage methods and availability of hardware solutions (Rutoken was used in the deal) to reduce operational risks.
- Establish contact with your bank or financial partner and clarify pilot program conditions — Sberbank plans possible expansion of such operations to other clients.
- Monitor regulatory changes and prepare accounting and legal documents in accordance with current standards.