Sberbank Launches Bitcoin-Linked Bonds Amid Growing Russian Crypto Interest

The product allows qualified investors to gain exposure to Bitcoin’s price movements and the US dollar-to-ruble exchange rate, all within Russia’s regulated financial system.

🇷🇺 LATEST: Russia’s largest bank Sberbank launches structured bonds tied to Bitcoin and USD/RUB, with $BTC futures set to list on Moscow Exchange June 4. pic.twitter.com/kR8r6qguHS

— Cointelegraph (@Cointelegraph) June 2, 2025

The structured bond ties returns to Bitcoin’s exchange rate against the US dollar, as well as the US dollar’s fluctuations against the Russian ruble. This offering comes amid increasing interest in cryptocurrency within Russia. Essentially, the bond’s income is determined by both Bitcoin’s valuation in relation to the dollar and the ruble’s valuation in relation to the dollar.

All transactions are conducted in rubles, ensuring compliance with Russian regulations and eliminating the need for investors to use crypto wallets or unregulated platforms. Initially available over the counter to qualified investors, Sber plans to list the product on the Moscow Stock Exchange to enhance transparency and liquidity.

Sber also announced plans to offer additional exchange-traded products tied to cryptocurrencies through its SberInvestments platform. The first of these, a Bitcoin futures product, is expected to debut on June 4, 2025, coinciding with the Moscow Exchange’s official launch of Bitcoin derivatives trading.

Notably, Russia is preparing new legislation aimed at streamlining the process of confiscating digital assets . The proposed bill intends to clarify and enhance the legal framework for seizing cryptocurrencies and other digital property in criminal cases.

Sber’s move follows the Bank of Russia’s recent decision on May 28 to allow financial institutions to offer certain crypto-related financial instruments to accredited investors. However, direct cryptocurrency offerings remain prohibited. Amid Russia’s regulatory changes, Sberbank and T-Bank have launched Bitcoin-linked investment products via tokenization platforms like Atomyze.

According to the central bank’s Q1 2025 review , Russian residents hold approximately 827 billion rubles ($9.2 billion) in crypto assets on centralized exchanges. Crypto inflows to Russian platforms surged by 51% to 7.3 trillion rubles ($81.5 billion) during the same period, with Bitcoin accounting for 62% of trading volume.

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