Sberbank, Russia’s largest bank, plans to accept ether and Tether’s USDT as collateral for crypto-backed loans alongside bitcoin, once regulators allow those assets to circulate publicly under the country’s new rules. The Bank of Russia’s August draft list named bitcoin, ether and USDT as cryptocurrencies cleared for public trading, while a new crypto law effective September 1 permits trading through regulated intermediaries but continues to ban domestic crypto payments. Using USDT collateral is controversial because Tether can freeze tokens linked to sanctioned entities, a risk highlighted by the central bank, while ether and bitcoin lack issuers and therefore avoid comparable centralized intervention concerns.
This update represents a notable development in the Crypto sector. Organizations and founders tracking this space should evaluate potential strategic and technical implications on their operations.