According to ChainCatcher and Cointelegraph, Sber, Russia's largest commercial bank, has launched a structured bond product linked to Bitcoin, which tracks Bitcoin price changes and the USD to ruble exchange rate. The bond is currently available in the over-the-counter market for qualified investors, with plans to list on the Moscow Stock Exchange in the future to enhance transparency, liquidity, and investment convenience.
Sber stated that the bond allows holders to earn returns from Bitcoin's USD value changes and the appreciation of the USD to ruble exchange rate. All transactions are settled in rubles within the Russian regulatory framework, without relying on crypto wallets or unregulated platforms. Additionally, Sber plans to introduce cryptocurrency-related exchange-traded products (ETP) on its SberInvestments platform, with the first product being Bitcoin futures, expected to go live on the Moscow Stock Exchange on June 4.
