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Russia’s largest bank, Sberbank, has issued the country’s first loan backed by cryptocurrency to a Bitcoin mining company. The move highlights growing institutional interest in digital assets and the use of crypto as collateral in traditional lending. Details of the transaction were not disclosed at this time.
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The development signals a potential shift in Russia’s crypto finance landscape, as banks explore asset-backed crypto products amid rising mining activity. The deal suggests lenders are willing to extend credit against digital assets, broadening the use cases for crypto collateral. Industry observers say the approach could encourage additional banks to offer crypto-backed financing to crypto-related businesses, potentially expanding the reach of crypto into mainstream finance.
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