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Russia's Sberbank Sees $46 Billion in Crypto Trading, Plans Ethereum and USDT-Backed Loans

In brief Sberbank's Anatoly Popov told TASS that Russian crypto trading could reach about 4 trillion rubles (~$46.43 billion) in the first year under new rules and roughly 7.5 trillion rubles (~$87 billion) by 2029. The bank plans to accept Ethereum and USDT as loan collateral alongside Bitcoin—"after the Central Bank, of course, allows them for public circulation.” The plans come as Russia's crypto law takes effect September 1.