Russia's largest bank launches structured bonds linked to BTC

06-02

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According to ChainCatcher, citing CoinDesk, Sberbank, Russia's largest bank, has launched a new structured bond that is linked to the price of BTC and the USD/RUB exchange rate.

The bond will initially be available only over-the-counter to a select group of qualified investors. The holders' returns will depend on two variables: the future performance of BTC against the US dollar and the appreciation of the US dollar against the ruble.

Investors can participate without opening a crypto wallet or using a foreign crypto exchange, with all transactions conducted in rubles and processed through a "legal and infrastructure system" within Russia.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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