Sberbank Makes History with Russia's First Bitcoin-Backed Loan to Miner Intelion Data

Sberbank, Russia's largest financial institution, has issued the country's first-ever loan secured by cryptocurrency. The landmark deal was provided to the bitcoin mining company Intelion Data. This pioneering financial instrument allows businesses to use their digital assets, such as Bitcoin (BTC), as collateral to obtain traditional fiat financing without the need to sell their crypto holdings. The move signals a significant step towards the integration of digital and traditional finance within the Russian economy and could pave the way for broader adoption of crypto-backed financial services in the region. Experts view this development as a test case for the regulatory framework surrounding digital assets in Russia.