Russia’s Largest Bank Sberbank Launches Structured Bonds Tied to Bitcoin
The structured product gives exposure to BTC price changes and USD/RUB exchange shifts.
- Sberbank introduced a structured bond tracking bitcoin and the dollar-to-ruble exchange rate.
- The bond is available to qualified investors over the counter, with transactions processed in rubles within Russia.
- The bank plans to offer a BTC futures product on June 4 that will be listed on the Moscow Exchange.
Sberbank, Russia’s largest bank, has introduced a new structured bond that tracks the price of bitcoin and the dollar-to-ruble exchange rate.
Initially available over the counter to a limited pool of qualified investors, the bonds let holders earn based on two variables: the future performance of BTC in U.S. dollars and any strengthening of the dollar relative to the ruble.
Investors can access these instruments without opening a crypto wallet or using foreign crypto exchanges, with all transactions being processed in rubles within Russia’s “legal and infrastructure systems.”
The bank plans to list similar structured products with cryptocurrency exposure on the Moscow Exchange, according to a recent announcement.
Sberbank, per the announcement, is also launching a bitcoin futures product via its SberInvestments platform on June 4, aligning with the launch of the product on the Moscow Exchange.
The announcement comes just after the Bank of Russia said financial institutions in the country can offer cryptocurrency-linked instruments to qualified investors.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
