The Savings Bank of the Russian Federation is preparing to expand its encrypted mortgage operations. Anatoly Popov, Vice-President of the Bank, indicated that, with the approval of the Central Bank of Russia, the Bank planned to accept Bitcoin, USDT issued by Taifung and Tether as collateral for the loan.
This arrangement is still in the planning stage. Banks have yet to disclose the time of entry, the terms of the loan and the extent to which they apply. According to the line, ETH and USDT would be included in the product only if the assets in question were allowed to circulate openly through regulated channels.
New rules. Effective September.
The new encrypted market framework for Russia will enter into force on 1 September 2026 and will be officially regulated by the Russian Central Bank. Under the current arrangements, banks, voucher dealers, regulatory agencies, encrypted trading platforms and digital custodians will be included in the compliance market system.
The participation of retail investors remains limited. Non-qualified investors need to pass the knowledge test before they can purchase up to 300,000 roubles per year from each compliance broker. Qualified investors also need to be tested, but have access to a wider range of assets and are not subject to the same monetary ceiling.
Russia has not thus liberalized the use of encrypted currency in domestic payments for goods and services. The internal payment ban remains in force, but import and export enterprises may, under applicable rules, settle across borders in encrypted currency.
Has completed a bitcoin mortgage pilot
Popov states that banks have prepared for regulatory changes and have accumulated practical experience in handling encrypted assets. As early as December 2025, the Bank had indicated that it was in the process of assessing encrypted mortgages and advancing with regulators the required infrastructure.
Since then, the savings bank of the Russian Federation and the mining company Intelion Data have completed a bitcoin mortgage pilot. Borrowers use as collateral bitcoin from mining. The transaction gave the bank operational experience in hosting, collateral monitoring and disposal processes.
However, this does not mean that clients can now apply for loans with ETH or USDT. It still needs to be clarified by the Russian Central Bank what assets can be circulated through regulated intermediaries and further used in banking products.
Synchronize the hosting and trading system
In addition to the loan business, the Savings Bank of the Russian Federation is also promoting a regulated encryption and hosting infrastructure. The Bank plans to launch a digital hosting platform by 1 December 2026 to record customer holdings, manage wallets and support filling, extraction and settlement.
At present, the bank has not confirmed which encrypted assets the platform will support, nor has it disclosed the fees and currency limits. Since 2022, the Bank has been in the list of information system operators approved by the Russian Central Bank and has issued monetized financial products in the digital financial asset market.
The business to be undertaken by the Bank remains a traditional bank lending model rather than a public-chain lending agreement. Banks will hold encrypted collateral under a supervised hosting structure and will issue regular loans.
Additional information:The Central Bank of Russia also needs to develop complementary standards on negotiable assets, trusteeship, accounting treatment and customer protection. Market participants are required to complete their licence applications and adjust their operations by 1 July 2027, and the Russian Federal Savings Bank ' s infrastructure development schedule is in the interim.