Sber launches Bitcoin-linked bonds on OTC markets

Russia’s largest commercial bank, Sber, has introduced a Bitcoin-linked (CRYPTO:BTC) bond product that tracks both Bitcoin’s price movements and the dollar-to-ruble exchange rate.

The product is currently available to qualified investors through over-the-counter (OTC) markets, with plans to list it on the Moscow Stock Exchange in the near future, according to a statement released on May 30.

Sber stated that listing the bond on the exchange will provide greater transparency, liquidity, and accessibility for a wider range of investors.

The bond structure allows holders to potentially earn income from fluctuations in Bitcoin’s dollar value as well as changes in the dollar’s strength against the Russian ruble.

All transactions are conducted in rubles within Russia’s regulatory framework, eliminating the need for investors to use crypto wallets or unregulated platforms.

Additionally, Sber announced plans to offer exchange-traded products (ETPs) providing crypto exposure on its SberInvestments platform.

The first product expected to launch is a Bitcoin futures ETP, which should be listed on the Moscow Exchange starting June 4, pending official approval.

This move follows the Bank of Russia’s recent decision on May 28 to allow financial institutions to offer certain crypto-linked financial instruments to accredited investors.

However, the central bank maintains a restriction that cryptocurrencies cannot be offered directly by these institutions.

On the same day, Moscow-based T-Bank, formerly Tinkoff Bank, launched a Bitcoin price-linked investment product issued via the state-backed tokenisation platform Atomyze.

According to the Bank of Russia’s first-quarter 2025 report, Russian residents hold approximately 827 billion rubles ($9.2 billion) worth of crypto assets on centralised exchanges.

Crypto inflows into Russian platforms increased 51% to 7.3 trillion rubles ($81.5 billion) during this period.

Bitcoin accounts for 62% of crypto holdings on Russian exchanges, followed by Ether (CRYPTO:ETH) at 22%, with stablecoins like Tether (CRYPTO:USDT) and USDC (CRYPTO:USDC) making up the remainder.

At the time of reporting, the Bitcoin (BTC) price was $105,383.