Russia’s Biggest Bank Issues First Crypto-Backed Loan To Bitcoin Mining Company

Russia’s largest bank, Sberbank, has issued the country’s first corporate loan backed by cryptocurrency, extending financing to one of the nation’s biggest Bitcoin mining firms, Intelion Data. In a pilot deal, Intelion pledged digital assets it mined as collateral, marking a significant moment in the integration of digital coins into traditional banking practices in Russia. […]
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