Russian bank Sberbank plans to accept cryptocurrency as collateral for loans.

Russian bank Sberbank is planning to launch cryptocurrency-backed corporate loan products, driven by strong customer demand, and says it is prepared to work with the Central Bank of Russia to develop a regulatory framework. This plan follows a similar path to international banks, such as JPMorgan Chase, which is exploring such products, and Wells Fargo, which already offers related services. Reportedly, Sberbank completed a pilot transaction with mining company Intelion Data late last year, where the latter used its own digital currency as collateral, with the bank managing the collateral through its proprietary custody infrastructure and Rutoken hardware solution. (The Block)