Sberbank Issues First Bitcoin-Backed Loan

Sberbank, Russias second-largest bank, makes history with its first bitcoin-backed loan to Intelion Data, a major bitcoin miner. The bank, using its own crypto custody service, Rutoken, believes this loan could pave the way for more such transactions, appealing to companies holding cryptocurrencies. Intelions CEO praised the move, seeing it as a significant step for the industry. Sberbank, already offering structured bonds and digital assets tied to cryptocurrencies, is now testing decentralized finance tools and advocating for the gradual legalization of cryptocurrencies in Russia, potentially opening doors for larger crypto plays in the future. Checkout Solipillow.comThe Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.