According to DL News, Russia's largest bank Sberbank has issued the country's first cryptocurrency-backed loan to major Bitcoin miner Intelion Data. The transaction is described as a "pilot," with the loan amount, term, and specific collateral cryptocurrency undisclosed. The related crypto assets are held in Sberbank's own custody solution Rutoken until the repayment is completed.
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According to DL News, Russia's largest bank Sberbank has issued the country's first cryptocurrency-backed loan to major Bitcoin miner Intelion Data. The transaction is described as a "pilot," with the loan amount, term, and specific collateral cryptocurrency undisclosed. The related crypto assets are held in Sberbank's own custody solution Rutoken until the repayment is completed.