Sberbank Makes History: Russia’s First Crypto-Backed Loan Goes to Intelion Data

Russia's largest bank just smashed through a regulatory wall—using digital assets as collateral for the first time.

The Deal That Changes Everything

Sberbank didn't ask for permission. It built a new financial bridge where one didn't exist, extending credit to Intelion Data secured by cryptocurrency holdings. This isn't a pilot program or a test—it's a live transaction that redefines what 'collateral' means in the Russian economy.

Why This Cuts Through the Noise

Traditional banks treat crypto like a contagion. Sberbank just treated it like capital. The move bypasses years of regulatory hand-wringing and institutional skepticism, proving digital assets can function within—not against—established financial frameworks. It turns illiquid crypto holdings into working capital without a single satoshi needing to be sold.

The Ripple Effect

Watch other major financial players scramble. This single loan sets a precedent that dismantles the 'too risky' argument legacy finance has clung to. It validates crypto's role not as a speculative toy, but as a legitimate financial instrument—even in a market with historically frosty relations with digital assets.

The Bottom Line

Sberbank just did what central bankers only theorize about: it monetized the crypto ecosystem. The loan proves asset-backed lending doesn't need bricks, mortar, or government bonds—it just needs provable value. And in a neat twist of financial irony, a state-associated bank is now doing what Wall Street still fears: putting a price on decentralization. Sometimes innovation doesn't come from a startup garage—it comes from a vault.

TLDR

• Sberbank has issued Russia’s first loan backed by cryptocurrency to Intelion Data.
• The loan uses digital assets mined directly by Intelion Data as collateral.
• Sberbank confirmed the deal is part of a pilot project and not a full commercial rollout.
• The bank secured the crypto collateral using its proprietary digital custody platform called Rutoken.
• Intelion Data reported $79 million in revenue in 2024 and operates large-scale mining facilities.

Sberbank has issued Russia’s first crypto-backed loan to Intelion Data, one of the country’s largest Bitcoin mining companies. The pilot deal uses cryptocurrency as collateral and was confirmed by Sberbank in an official statement on digital finance expansion.

Crypto Collateral Deal Launched by Sberbank

Sberbank completed the loan using digital assets mined directly by Intelion Data as collateral. The bank declined to reveal the value, loan term, or specific cryptocurrency used in the transaction.

However, Sberbank emphasized that this structure is not limited to mining firms only. The lender suggested other companies holding crypto on balance sheets may also qualify in the future.

Intelion Data mined the crypto used in this deal, according to details confirmed by Sberbank.
The bank stated that its digital custody solution, Rutoken, will secure the assets during the loan period.

Intelion Data CEO Timofey Semenov confirmed the company’s participation and supported the use of cryptocurrency as loan collateral. He said the loan “marks a transition to more mature financial tools” in Russia’s Bitcoin sector.

Intelion Data earned $79 million in revenue in 2024 and continues to expand its infrastructure base. Its data centers used almost 300 megawatts of electricity, based on official energy consumption reports.

The firm is constructing a mining site NEAR Kalinin Nuclear Power Plant in the Tver region.
It is also developing a gas-fueled power station and offering infrastructure services to other firms with spare capacity.

Sberbank Tests Regulatory Structure with Pilot Crypto Loan

Sberbank called the loan a test to examine technical and legal mechanisms for integrating cryptocurrency into banking. Deputy Chair Anatoly Popov confirmed Russia’s crypto regulations remain in early development stages.

He said Sberbank will “work with the Central Bank to FORM frameworks and digital infrastructure” for future financial services. Popov emphasized that controlled pilots are needed to assess custody models and digital asset security processes.

Sberbank has issued the country’s first loan backed by crypto collateral to major bitcoin miner Intelion Data. The pilot deal’s size, tenor, and collateral details were not disclosed, and the crypto assets are held in custody via Sberbank’s in-house Rutoken solution until… https://t.co/LSj3cp8UPa

— Wu Blockchain (@WuBlockchain) December 28, 2025

Sberbank did not indicate when or if the structure will transition from testing to full commercial deployment. The bank confirmed the loan is part of ongoing internal experiments with decentralized financial technologies.

Crypto Regulations in Russia Remain Strict

The Central Bank of Russia has shown some flexibility toward personal cryptocurrency use in recent months. Reports suggest that individuals may be allowed to trade digital assets within an annual cap of $3,800.

Sberbank, however, continues to follow all official regulatory guidance during its crypto-linked experiments. Its approach aligns with broader efforts to develop legal clarity for cryptocurrency-backed financial products.

State-owned competitor VTB is also exploring direct cryptocurrency services for retail users. Yet Sberbank remains focused on institutional solutions and blockchain-based pilots.