Sovcombank Becomes First Russian Bank to Offer Bitcoin-Backed Loans to Retail Clients

Sovcombank has announced a pioneering financial service in Russia, becoming the first bank in the country to offer loans secured by Bitcoin (BTC) to the general public. This move allows retail clients to use their cryptocurrency holdings as collateral to obtain fiat liquidity without needing to sell their digital assets. The service is positioned to bridge the gap between traditional banking and the growing cryptocurrency market, providing new financial flexibility for Bitcoin investors in Russia. The bank has implemented a specialized risk assessment system to manage the volatility associated with crypto collateral.