Russia’s largest commercial bank, Sber, has launched a Bitcoin-linked bond product that tracks the price changes of Bitcoin and the dollar-to-ruble exchange rate. Currently available to qualified investors in the over-the-counter market, Sber plans to soon list these bonds on the country's premier stock exchange, ensuring greater transparency and liquidity for investors. The bonds may provide income through fluctuations in Bitcoin's dollar value as well as gains from the strengthening dollar against the ruble. Sber clarified that all transactions are conducted in rubles, adhering to Russia's regulatory framework, which alleviates the need for crypto wallets. Additionally, Sber is set to launch Bitcoin futures on its SberInvestments platform on June 4, coinciding with the Moscow Exchange's rollout of the product. This initiative follows the Bank of Russia's recent approval on May 28, permitting financial institutions to offer select crypto financial instruments to accredited investors. Sber's move reflects a broader trend, as another institution, T-Bank, also introduced an investment product linked to Bitcoin's price that day, further indicating a growing acceptance of crypto products in Russia.

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