Sberbank, Russia’s largest bank, estimates that cryptocurrency trading volumes in the country could reach approximately 4 trillion rubles ($46.43 billion) in the first year following the new regulations, then around 7.5 trillion rubles ($87 billion) by 2029. The bank plans to accept Ethereum and the stablecoin USDT as loan collateral alongside Bitcoin, once the central bank authorizes these assets for public circulation. Russia’s crypto law takes effect on September 1, establishing a framework for trading, custody, and cross-border payments. The Bank of Russia published a draft list of eligible assets for public trading comprising only Bitcoin, Ethereum, and USDT, excluding tokens such as XRP. Sberbank already piloted a Bitcoin-backed loan with mining firm Intelion in December 2025.
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