Clients of Russia’s Sberbank now have access to Bitcoin-linked bonds. These securities track changes in the value of the flagship cryptocurrency and the dollar-to-ruble exchange rate.
For now, only qualified investors on the over-the-counter market can use the new product, but in the future Sberbank plans to list it on the Moscow Stock Exchange.
According to a statement from the Russian bank, the listing Bitcoin-bonds will ensure transparency, liquidity and convenience for a wide range of qualified investors who will be able to receive income from changes in the value of bitcoin in dollars and the strengthening of the dollar against the ruble. At the same time, Sberbank clients will not have to rely on crypto wallets and trust their funds to unregulated crypto platforms.
The bank also plans to offer additional cryptocurrency exchange-traded products, including futures on Bitcoin, which will become available through the SberInvest platform on June 4 after the launch of BTC futures trading on the Moscow Exchange.
Sberbank was not the first Russian bank to offer its clients access to cryptocurrency. This was previously reported representatives of T-Bank statedLast week, an announcement was made about the release of digital financial assets tied to Bitcoin.
