Russia's largest bank launches structured bonds linked to BTC

ChainCatcher news, according to CoinDesk, Russia's largest bank—Sberbank—has launched a new structured bond that is linked to the price of Bitcoin (BTC) and the exchange rate of the US dollar to the Russian ruble.

The bond is initially available only through over-the-counter transactions to a select group of qualified investors. The returns for holders will depend on two variables: the future performance of Bitcoin against the US dollar and the appreciation of the US dollar against the ruble.

Investors do not need to open a crypto wallet or use foreign crypto exchanges to participate; all transactions are conducted in rubles and processed through a "legal and infrastructure system" within Russia.