Russia’s largest bank issues first cryptocurrency-backed loan to Bitcoin mining company
Russia’s largest bank, Sberbank, has issued the country’s first cryptocurrency-backed corporate loan, extending financing to one of the country’s largest Bitcoin mining companies, Intelion Data. In a pilot deal, Intelion pledged the digital assets it mined as collateral, marking a significant moment in the integration of digital currencies into traditional banking practices in Russia. Sberbank…