Sovcombank, one of Russia’s largest private banks, has launched loans secured by bitcoin. This means businesses can now use bitcoin as collateral to get cash from a traditional bank. The move shows that Bitcoin is slowly becoming part of Russia’s regular financial system.

Sovcombank is considered a “systemically important” bank, meaning it plays a major role in the country’s economy. The bank says its new product is available to companies, entrepreneurs, and, in some cases, individuals who legally own digital assets. Borrowers can get financing without selling their bitcoin.

This is important for businesses that hold large amounts of bitcoin but need cash to operate or grow. Until now, many companies had to sell their bitcoin to raise money. Sovcombank’s loans allow them to keep their bitcoin while still accessing funds.

Marina Burdonova, Sovcombank’s director of compliance, highlighted this development, saying:

The loans are only available to borrowers who meet clear conditions. Companies must have been registered and operating in Russia for at least one year. They must legally own the bitcoin they want to use as collateral and must have no overdue taxes or financial obligations.

The interest rate is based on the Central Bank of Russia’s key rate plus seven percentage points. At current levels, this puts the total rate at around 23%. Loan terms can last for up to two years.

Sovcombank applies a 50% loan-to-value (LTV) ratio. This means a borrower can receive a loan worth about half the value of the bitcoin they pledge. The bank does this to protect itself from sharp price changes in the bitcoin market.

Bitcoin prices can change quickly. The price reached more than $125,000 in October 2025 but fell to around $60,000 yesterday, before rebounding quickly to around $70,000. This volatility makes banks cautious.

If bitcoin’s price falls and the value of the pledged BTC nears the loan amount, the bank will be forced to demand additional collateral from the client. If the client cannot provide the collateral in time, the bank will sell the BTC to settle the loan.

Sovcombank is not the first Russian bank to lend against bitcoin. In December, state-owned Sberbank issued the country’s first bitcoin-backed loan to mining company Intelion Data. That deal was described as a test project.

Sberbank said its goal was to check how custody, risk management, and regulations would work in practice. It used an in-house system to store the bitcoin during the loan period.

Sovcombank has gone further. Instead of a limited test, it has launched a full product available to many borrowers. This suggests that banks are becoming more confident that Bitcoin can work within existing rules.

Sovcombank is also targeting bitcoin miners. It is offering free account maintenance, online banking, and easier currency controls for companies registered as miners or mining infrastructure operators.