Sberbank issues Russia's first crypto-backed loan to bitcoin miner Intelion Data

Group 1 - Sberbank, Russia's second-largest bank, has issued the country's first bitcoin-backed loan to a major bitcoin miner, indicating a pilot transaction with plans for future loans [1] - The loan was secured using Sberbank's crypto custody product, Rutoken, which holds the bitcoin collateral, ensuring asset safety during the loan period [2] - Intelion Data's CEO highlighted the loan as a significant practical example for the industry, suggesting it could lead to scalable applications in the Russian mining sector [3] Group 2 - Sberbank offers structured bonds and digital financial assets that include investments in bitcoin, ether (ETH), and cryptocurrency baskets, indicating a diverse product offering [4] - The bank is testing decentralized finance (DeFi) instruments and supports the gradual legalization of cryptocurrencies within the Russian legal framework, reflecting a proactive approach to evolving market conditions [4]