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Sovcombank initiates lending program for legal entities secured by Bitcoin., 2026/02/05 10:25:35
The Russian bank Sovcombank has announced the initiation of a lending program for legal entities secured by Bitcoin. Companies that meet the bank’s criteria will be eligible to receive loans in the leading cryptocurrency.
The financial institution emphasized that the company must be registered and have been operating in Russia for at least one year, as well as submit financial statements for the previous year to the Federal Tax Service (FTS). Additionally, the cryptocurrency must be officially owned by the borrower.
A mandatory requirement is the absence of overdue payments on loans, taxes, and fees. The interest rate for the loan is set at the level of the Bank of Russia’s key rate plus seven percentage points (23% annually). The maximum loan term is up to two years, and the discount for collateral valuation is established at 50%.
Compliance Director of Sovcombank Marina Burdonova noted that considering the recent market conditions, amid the decline in Bitcoin’s price, the product may become particularly sought after.
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“Many Bitcoin holders prefer to wait for a more favorable time to sell. Using Bitcoin as collateral allows them to secure funding for business development without the need to sell the asset,” explained the executive.
According to Ivan Melikhov, Director of the Industrial Mining Association, interest in cryptocurrency-backed lending in Russia remains high, as this tool enables access to funds without losing crypto assets.
Dmitry Zuev, Executive Director and founder of NGE FARM, described this lending format as highly risky due to the “extreme volatility of the underlying asset.”
Mikhail Brezhnev, co-founder of 51ASIC, stated that “this product is potentially interesting, especially for large players with significant Bitcoin reserves; however, under conditions of a high key rate and a strong ruble, it risks remaining niche without a substantial discount.”
Previously, the Russian pawnshop chain “Mosgorlombard” announced that it is considering the possibility of issuing loans to clients secured by cryptocurrency.
