Sberbank Launches Bitcoin-Linked Structured Bonds Tied to USD/RUB Exchange Rate
On June 2, 2025, Russia’s largest bank, Sberbank, unveiled a new structured bond product that offers investors exposure to both Bitcoin price movements and fluctuations in the U.S. dollar to Russian ruble exchange rate.
Initially available over-the-counter to a select group of qualified investors, the bonds provide returns based on two key factors: the future price performance of Bitcoin in U.S. dollars and any appreciation of the dollar relative to the ruble.
This innovative product allows investors to gain crypto-related exposure without the need for a crypto wallet or access to foreign cryptocurrency exchanges. All transactions are conducted in rubles and operate fully within Russia’s legal and financial infrastructure.
Sberbank has announced plans to introduce similar structured cryptocurrency products on the Moscow Exchange in the near future.
Additionally, the bank will launch a Bitcoin futures product through its SberInvestments platform on June 4, timed to coincide with the debut of these offerings on the Moscow Exchange.
This move follows recent guidance from the Bank of Russia permitting local financial institutions to offer crypto-linked instruments to qualified investors, marking a significant step toward integrating digital assets within Russia’s regulated financial ecosystem.
