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Russia’s Sovcombank has launched corporate lending secured by Bitcoin, expanding a small but growing segment of Bitcoin-backed loans in Russia. The move follows an earlier pilot by Russia’s largest bank, which tested a corporate loan secured by digital currency and held the collateral in custody during the term.
Sovcombank is a privately owned lender that Russia classifies as systemically important. Reports said the bank will offer crypto-backed corporate loans to legal entities that meet its internal criteria.
They also mentioned that borrowers must operate in Russia and must hold the Bitcoin they pledge as collateral. Additionally, applicants must file financial statements with Russia’s tax authority and carry no overdue tax obligations.
The same reports described the product as designed for businesses that want liquidity without selling Bitcoin. Consequently, the structure positions Bitcoin as a financing asset rather than a payment instrument.
Sovcombank’s reported pricing formula links interest to the Central Bank of Russia key rate plus seven percentage points. With the key rate listed at 16.00% on February 5, 2026, that framework implies a rate near 23% at current levels.
Reports also informed that the bank applies a 50% collateral discount, a haircut that reduces the lendable value of pledged Bitcoin. In addition, the reported maximum repayment term is up to two years.
This type of haircut aims to limit collateral shortfall during sharp price moves. Still, most crypto-collateral models require additional protection if Bitcoin falls fast.
Russia’s central bank has outlined a concept for cryptocurrency regulation and said lawmakers should draft the related legal framework before July 1, 2026. The concept also signals tighter expectations for market intermediaries over time.
In late December 2025, Russia’s largest bank noted that it completed a pilot corporate loan secured by self-mined digital currency from AO Intelion Data. The bank said it used an in-house custody solution, Rutoken, to safeguard collateral during the loan period.
The bank also said crypto-secured lending could expand once regulators develop rules and the market builds the necessary tools. Meanwhile, Sovcombank’s reported product suggests banks now see enough demand to start formalizing processes.
Bitcoin-backed loans in Russia now sit at the intersection of bank risk policy and pending legal details. Over the next few months, lenders’ ability to scale these products will likely track how quickly authorities finalize operational standards for custody, valuation, and enforcement.
Also Read: Crypto Market Today: Russia Plans to Unblock Crypto-Linked Bank Accounts After Anti-Fraud Errors
