Sovcombank says it's the first Russian bank to offer bitcoin-backed loans to public

Larger rival Sberbank beat Sovcombank to the punch, but it's still running as a pilot program. What to know : Sovcombank, Russia’s ninth-largest bank, started offering bitcoin-backed loans, saying it's the first major lender in the country to do so. Larger rival, state-owned Sberbank, started a pilot program in December. The move reflects growing interest from Russian banks in helping miners and crypto businesses unlock liquidity without selling their digital assets.