Sberbank’s first crypto-backed loan to a bitcoin miner lands as Russia tightens trading rules
Sberbank, Russia’s largest bank, said it has issued the country’s first crypto-backed loan to Intelion Data, one of Russia’s biggest bitcoin miners, using digital currency mined by the firm as collateral. Sberbank did not disclose the loan size or the amount of cryptocurrency pledged, and said it will hold the collateral in its own wallets until the loan is repaid. “The regulation of the digital currency market is still in its infancy in Russia,” said Anatoly Popov, Sberbank’s deputy chair. DL News
