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