Sberbank Grants Russias First Crypto-Backed Loan to Bitcoin Mining Firm Intelion Data

Russia: Sberbank Issues Crypto-Backed Loan to Bitcoin Mining Company

The Sberbank has tested the issuance of crypto-backed loans in Russia as part of a pilot project. The first loan of this kind was granted to Intelion Data, a Bitcoin mining company that has been operating numerous data centers in Russia since 2017 and manages over 35,000 ASICs with a capacity of around 300 megawatts as of 2024. The exact amount and duration of the loan, as well as the type and extent of the cryptocurrency used as collateral, have not been disclosed by either the financial institution or the mining company.

"This pilot project allowed us to test mechanisms for digital security that could serve as a basis for future regulations." - Anatoly Popov, Deputy Chairman of Sberbank

Intelion Data, which has over 1,500 clients, is one of the largest Bitcoin miners in Russia, and it is likely that the cryptocurrency used as collateral is Bitcoin itself. The Sberbank utilizes the Russian hardware-based security solution "Rutoken" for the secure storage of digital assets during the loan period, aiming to create a foundation for future regulation and infrastructure for similar credit offerings.

Key Takeaways:

• Sberbank has issued Russia's first crypto-backed loan to Intelion Data.
• The loan's details, including amount and duration, remain undisclosed.
• Rutoken is used for secure storage of the collateralized cryptocurrency.

China's Digital Yuan: Interest Payments Starting 2026

Starting January 1, 2026, China will pay interest on verified digital yuan (e-CNY) wallet balances, marking a significant shift from digital cash to regulated digital deposit money. This change comes as the People's Bank of China (PBoC) tightens its grip on the cryptocurrency sector, particularly focusing on Bitcoin mining and the tokenization of real-world assets. Lu Lei, a deputy governor of the PBoC, stated that this new system is based on nearly ten years of research and pilot projects.

As of late November 2025, there were already 3.48 billion transactions processed with a total value of 16.7 trillion yuan (approximately 2.38 trillion USD). The multi-CBDC bridge (mBridge) has handled 4,047 cross-border payments worth a total of 387.2 billion yuan (54.21 billion USD), with around 95.3% of these transactions conducted using the digital yuan.

Key Takeaways:

• Interest payments on digital yuan will begin in 2026.
• 3.48 billion transactions were processed by late November 2025.
• China continues to restrict cryptocurrency activities while promoting its digital currency.

Sberbank's First Bitcoin-Backed Loan: A Step Forward

Sberbank has issued Russia's first Bitcoin-backed loan to Intelion Data, indicating a growing interest in crypto lending. The bank utilized its own crypto custody product, Rutoken, to secure the loan, which highlights the potential for future expansions in this area. Although the loan amount has not been disclosed, the bank expressed that this product could be relevant not only for cryptocurrency miners but also for companies holding cryptocurrencies.

Timofey Semenov, CEO of Intelion Data, described the loan as an important practical example for the industry, suggesting that if successful, it could be expanded within the Russian mining sector. Anatoly Popov from Sberbank noted that the bank is already offering structured bonds and digital financial products linked to Bitcoin and is testing decentralized financial instruments.

Key Takeaways:

• Sberbank's loan to Intelion Data marks a significant milestone in crypto lending in Russia.
• The bank is exploring decentralized finance and supporting the gradual legalization of cryptocurrencies.

Sources:

• Russland: Sberbank vergibt Krypto-besicherten Kredit an Bitcoin-Mining-Unternehmen
• Chinas Digital-Yuan: Ab 2026 mit Zinsen – Das steckt hinter dem neuen Rahmen
• Sberbank gewährt Russlands erstes durch Bitcoin besichertes Darlehen im Pilotprojekt