Russia’s largest bank prepares loans backed by BTC, ETH and USDT

Sberbank, Russia’s largest bank, is preparing a financial product that would recognize Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) as collateral for loans in line with new Russian central bank crypto regulations set to take effect on Sept. 1, Crypto Briefing reported. The bank also plans to launch a crypto wallet and digital custody service within the year.