SBER News & Analysis
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Market Mood
Sberbank Plans to Accept Bitcoin and Ethereum as Loan Collateral
Sberbank, Russia's largest bank, plans to accept Bitcoin (BTC), Ether (ETH), and Tether (USDT) as collateral for loans, according to deputy chairman Anatoly Popov. This follows the country's digital currency law signed on August 4, which takes effect on September 1, prohibiting payment with crypto. While corporate borrowers can utilize these digital assets without limits, non-qualified investors are capped at 300,000 rubles (approximately $3,632) annually. The acceptance of crypto as collateral is contingent on approvals from the Central Bank, which has yet to provide a launch date or interest rates.
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Sberbank (SBER) Pursues Chinese Chips for GigaChat AI Model
Sberbank (SBER) is actively seeking Chinese chips to enhance its GigaChat AI model. This initiative reflects Sberbank's strategy to bolster its artificial intelligence capabilities amid technological sanctions. The collaboration could lead to a significant advancement in AI technology domestically. The success of GigaChat could influence the market for AI solutions in Russia and its competitive positioning globally.
Read More: Sberbank (SBER) Pursues Chinese Chips for GigaChat AI Model