Sberbank Introduces Structured Bonds Linked to Bitcoin and Dollar-Ruble Rate
Sberbank has launched a structured bond that tracks the price of Bitcoin and the dollar-to-ruble exchange rate. Key points include:
- The bonds are initially available to a limited number of qualified investors.
- Returns depend on BTC performance in USD and the dollar's strength against the ruble.
- Investors do not need a crypto wallet or foreign exchanges; transactions occur in rubles within Russia's legal framework.
- Sberbank plans to list similar products on the Moscow Exchange.
- A bitcoin futures product will be available on SberInvestments starting June 4, coinciding with its launch on the Moscow Exchange.
- This follows the Bank of Russia's recent approval for financial institutions to offer cryptocurrency-linked instruments to qualified investors.