Sberbank, the largest bank in Russia, has announced the launch of structured bonds that are tied to Bitcoin's price and the dollar-to-ruble exchange rate. These bonds, priced at approximately $104,263.33 for Bitcoin, offer investors a chance to earn based on two key factors: the future performance of Bitcoin in U.S. dollars and the potential strengthening of the dollar against the ruble. Initially, these structured bonds will be available over the counter to a limited number of qualified investors, enabling participants to engage in the crypto market without needing to open a crypto wallet or access foreign exchanges. All transactions will be processed in rubles through the legal and infrastructure frameworks established in Russia.
Furthermore, Sberbank intends to list similar cryptocurrency-linked products on the Moscow Exchange. In addition to this, the bank is set to launch a Bitcoin futures product through its SberInvestments platform on June 4, coinciding with the launch of the product on the Moscow Exchange. This development follows the recent announcement from the Bank of Russia, which allows financial institutions to offer cryptocurrency-related instruments to qualified investors.
Furthermore, Sberbank intends to list similar cryptocurrency-linked products on the Moscow Exchange. In addition to this, the bank is set to launch a Bitcoin futures product through its SberInvestments platform on June 4, coinciding with the launch of the product on the Moscow Exchange. This development follows the recent announcement from the Bank of Russia, which allows financial institutions to offer cryptocurrency-related instruments to qualified investors.
