Feb 5
Sovcombank launches bitcoin-backed loans for Russian miners and businesses
Sovcombank, the ninth-largest Russian bank by assets, said it became the first financial institution in the country to offer bitcoin-backed loans to individuals and corporations who legally own digital assets. The move follows a pilot program by state-owned Sberbank, which in late December issued the first such product to mining firm Intelion Data. While crypto-secured lending remains limited…