Waves Powers Russia’s First Reported Crypto-Backed Bank Loan

[Lenipiw]

Russian banks are not waiting for full regulatory clarity to issue crypto loans.
Expobank, a commercial bank in Russia, has reportedly issued the country’s first-ever loan backed by cryptocurrency.

According to an Aug. 19 report by local news agency Kommersant, Expobank provided the credit through issuing an individual bank loan powered by Waves (WAVES) tokens.

Waves CEO and founder Alexander Ivanov confirmed the news in a tweet, noting that the loan used Waves tokens as collateral.
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