Russia’s largest bank, Sber, has launched bitcoin – linked bonds. Here are the details:
Product Characteristics: The structured bonds are tied to the price of bitcoin and the dollar – to – ruble exchange rate. They are offered to local qualified investors in the over – the – counter market. All transactions are settled in rubles, so investors don’t need to use crypto wallets or overseas platforms. Holders of these bonds can earn income from the change in the dollar value of bitcoin and the strengthening of the dollar against the ruble.
Listing Plans: Sberbank stated that the bonds are expected to be listed on the Moscow Exchange in the future, which will ensure transparency, liquidity, and convenience for a wide range of qualified investors.
Related Background: On May 28, Russia’s central bank permitted financial institutions to offer certain crypto – related financial instruments to accredited investors, with the key stipulation that financial institutions could not offer cryptocurrencies directly. Sber’s launch of bitcoin – linked bonds is in line with this regulatory policy. Additionally, on June 4, Sber will launch a bitcoin futures product on its SberInvestments platform.
In addition, on the same day the central bank made its announcement, Moscow – based T – Bank (formerly Tinkoff Bank) also rolled out an investment product tied to bitcoin’s price, referring to it as a “smart asset” issued through the Russian state – backed tokenization platform Atomyze.
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