Sberbank, Russia's largest bank, has issued the country's first loan secured by crypto assets to Intelion Data, a major local Bitcoin mining company. Sberbank stated that the loan was secured by digital currency mined by Intelion Data, but did not disclose the loan amount, the quantity of collateral, or the term, defining it as a "pilot" operation. Sberbank indicated that such products are not only applicable to mining companies but could also be promoted to businesses holding crypto assets. The bank used its own crypto asset custody solution, Rutoken, in the transaction to ensure the safety of the collateral assets during the loan period. Sberbank Vice Chairman Anatoly Popov stated that Russian digital asset regulation is still in its early stages, and the bank is willing to cooperate with the central bank to improve relevant rules and use this pilot project as a reference for future regulation and infrastructure development. Intelion Data CEO Timofey Semenov stated that this transaction is an important practical case for industry development, and if successful, it could be further promoted in the Russian mining sector. (DL News)