Highlights

• Sberbank has introduced structured bonds that track Bitcoin and the dollar-to-ruble exchange rates.
• These bonds are available to qualified investors in Russia, with transactions conducted in rubles.
• The bank is set to launch a Bitcoin futures product on June 4, which will be listed on the Moscow Exchange.

Sberbank, the largest bank in Russia, has announced the launch of a new structured bond that tracks Bitcoin’s price (BTC at $104,259.52) and the dollar-to-ruble exchange rate. Initially offered to a limited group of qualified investors, these bonds allow holders to benefit from the future performance of BTC in U.S. dollars and any appreciation of the dollar against the ruble.

Investors can engage with these products without the need for a crypto wallet or reliance on offshore crypto exchanges, and all transactions will be processed in accordance with Russia’s established legal and infrastructural frameworks.

Sberbank plans to introduce similar structured products with cryptocurrency exposure on the Moscow Exchange, based on a recent announcement. Additionally, Sberbank will launch a Bitcoin futures product via the SberInvestments platform on June 4, aligning with the product launch on the Moscow Exchange.

This announcement follows the Bank of Russia’s statement allowing financial institutions in the country to provide cryptocurrency-linked products to qualified investors.