Russia's largest bank Sberbank is entering the crypto-backed mortgage market, with regulatory countdown prompting the industry to shift towards compliance

As the Russian crypto regulatory framework gradually becomes clearer, Russia’s largest bank—the Sberbank of Russia—is evaluating the possibility of launching cryptocurrency-backed loans. This move is seen as an important signal of Russia’s financial system shifting from simple crypto transactions to more complex crypto financial services, such as crypto asset collateralized financing.

Sberbank Vice Chairman Anatoly Popov stated that the bank is ready to cooperate with regulators to build the infrastructure needed for cryptocurrency-backed loans. He pointed out that the bank has the technical capabilities in place, but the specific implementation timeline still depends on the ongoing regulatory framework. If smoothly implemented, such products are expected to be officially launched around the regulatory deadline in 2026.

This plan is part of Sberbank’s broader digital asset strategy. Just this year, the bank has issued over 160 tokenized assets across sectors including real estate, oil, and commodities, continuously expanding Russia’s tokenized financial ecosystem.

Meanwhile, Russia’s major exchanges are also preparing for regulatory implementation. The Moscow Exchange and Saint Petersburg Exchange have explicitly stated that once the relevant legislation takes effect on July 1, 2026, they will immediately launch regulated cryptocurrency trading services. The regulatory scheme clearly distinguishes between qualified and non-qualified investors, with non-qualified investors facing limits on trading volume and asset types, while qualified investors are required to pass risk awareness tests.

At the policy level, the official attitude in Russia has shifted from early caution or even resistance to a stance of “permitted under strict regulation.” Data shows that between 2024 and 2025, Russia’s cryptocurrency trading volume reached $376.3 billion, making it the largest crypto market in Europe. The significant growth of decentralized finance (DeFi) and stablecoins pegged to the ruble has further prompted regulators to recognize the systemic impact of this sector.

Additionally, the role of cryptocurrency mining in Russia is being redefined. Authorities have included illegal mining in their regulatory scope and acknowledged its potential impact on the economy and the ruble exchange rate.

Overall, as the 2026 regulatory deadline approaches, Sberbank’s exploration of cryptocurrency-backed loans not only reflects the banking sector’s interest in the financialization of crypto assets but also marks Russia’s crypto market accelerating its transition from the gray area toward compliance and institutionalization.