Sberbank Issues Russia’s First Crypto-Backed Loan to Intelion Data

TLDR

• Sberbank has issued Russia’s first loan backed by cryptocurrency to Intelion Data.
• The loan uses digital assets mined directly by Intelion Data as collateral.
• Sberbank confirmed the deal is part of a pilot project and not a full commercial rollout.
• The bank secured the crypto collateral using its proprietary digital custody platform called Rutoken.
• Intelion Data reported $79 million in revenue in 2024 and operates large-scale mining facilities.

Sberbank has issued Russia’s first crypto-backed loan to Intelion Data, one of the country’s largest Bitcoin mining companies. The pilot deal uses cryptocurrency as collateral and was confirmed by Sberbank in an official statement on digital finance expansion.

Crypto Collateral Deal Launched by Sberbank

Sberbank completed the loan using digital assets mined directly by Intelion Data as collateral. The bank declined to reveal the value, loan term, or specific cryptocurrency used in the transaction.

However, Sberbank emphasized that this structure is not limited to mining firms only. The lender suggested other companies holding crypto on balance sheets may also qualify in the future.

Intelion Data mined the crypto used in this deal, according to details confirmed by Sberbank.
The bank stated that its digital custody solution, Rutoken, will secure the assets during the loan period.

Intelion Data CEO Timofey Semenov confirmed the company’s participation and supported the use of cryptocurrency as loan collateral. He said the loan “marks a transition to more mature financial tools” in Russia’s Bitcoin sector.

Intelion Data earned $79 million in revenue in 2024 and continues to expand its infrastructure base. Its data centers used almost 300 megawatts of electricity, based on official energy consumption reports.

The firm is constructing a mining site near Kalinin Nuclear Power Plant in the Tver region.
It is also developing a gas-fueled power station and offering infrastructure services to other firms with spare capacity.

Sberbank Tests Regulatory Structure with Pilot Crypto Loan

Sberbank called the loan a test to examine technical and legal mechanisms for integrating cryptocurrency into banking. Deputy Chair Anatoly Popov confirmed Russia’s crypto regulations remain in early development stages.

He said Sberbank will “work with the Central Bank to form frameworks and digital infrastructure” for future financial services. Popov emphasized that controlled pilots are needed to assess custody models and digital asset security processes.

Sberbank did not indicate when or if the structure will transition from testing to full commercial deployment. The bank confirmed the loan is part of ongoing internal experiments with decentralized financial technologies.

Crypto Regulations in Russia Remain Strict

The Central Bank of Russia has shown some flexibility toward personal cryptocurrency use in recent months. Reports suggest that individuals may be allowed to trade digital assets within an annual cap of $3,800.

Sberbank, however, continues to follow all official regulatory guidance during its crypto-linked experiments. Its approach aligns with broader efforts to develop legal clarity for cryptocurrency-backed financial products.

State-owned competitor VTB is also exploring direct cryptocurrency services for retail users. Yet Sberbank remains focused on institutional solutions and blockchain-based pilots.

The post Sberbank Issues Russia’s First Crypto-Backed Loan to Intelion Data appeared first on CoinCentral.