Russia’s largest lender, Sberbank, announced on the 26th that it has issued a pilot corporate loan to Intelion Data, using cryptocurrencies mined by the company as collateral. This marks the first bank loan in Russia secured by domestically produced digital assets, representing a milestone for the country’s emerging crypto-finance sector.

?Sberbank, Russia’s largest bank, has issued the country’s first crypto-backed loan to Bitcoin mining firm Intelion Data. pic.twitter.com/BQKhqVGNnY

— CryptoDaku (@CryptoDaku_) December 28, 2025

Crypto Collateral Managed via In-House Custody Technology

Under the pilot structure, Intelion Data pledged cryptocurrencies it mined itself as collateral for the loan. Sberbank secured the digital assets using its proprietary hardware custody solution, Rutoken, designed to safely store crypto collateral throughout the loan term.

Details regarding the loan size, duration, and the specific altcoins used as collateral were not disclosed. Sberbank emphasized that the transaction is a test case, intended to validate operational and risk-management mechanisms for digital asset–backed lending.

Intelion Data is Russia’s second-largest crypto mining operator, reporting approximately $79 million in revenue in 2024. The company operates data centers with a combined power capacity of around 300 megawatts, highlighting its scale within the domestic mining industry.

Intelion Data CEO Timofey Semenov described the deal as “a signal that the market has reached a new level,” adding that a successful pilot could pave the way for broader adoption across Russia’s mining sector. The expansion of crypto-backed lending, he noted, could accelerate the development of the digital economy.

Regulatory Momentum Toward 2026 Legal Framework

Sberbank Deputy Chairman Anatoly Popov acknowledged that Russia’s regulatory framework for digital currencies remains in its early stages. He said the bank is working closely with the Central Bank of Russia to develop appropriate regulatory solutions and supporting infrastructure.

Earlier this year, the Central Bank submitted a comprehensive crypto regulation proposal to the government. The plan aims to complete legal reforms by July 1, 2026, allowing retail investors to trade cryptocurrencies with an annual cap of approximately $3,800 per person.

Popov added that crypto-backed loans could become useful not only for miners, but also for any corporation holding approved cryptocurrencies, signaling broader institutional use cases once regulation matures.