The largest bank in Russia launches bonds linked to the price of bitcoin!!
How this event is going to happen 🥴🥴
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This news comes after recent regulatory changes in Russia regarding cryptocurrencies.
Sberbank, which is the largest bank in Russia, launched a new structured bond that offers exposure to the price of bitcoin (BTC) and to the fluctuations in the exchange rate between the US dollar and the Russian ruble.
The instrument is initially available to qualified investors through the over-the-counter (OTC) market, and transactions are conducted in rubles within the local financial system.
This bond allows its holders to obtain returns based on two variables: the future evolution of the price of BTC in dollars and the strengthening of the dollar against the ruble. All transactions are processed within the legal and infrastructural framework of Russia.
Additionally, Sberbank announced that on June 4, it will launch a bitcoin futures product through its SberInvestments platform, which will be listed on the Moscow Stock Exchange. The initiative is part of a broader movement in the country, after the Bank of Russia —as reported by CriptoNoticias— authorized financial institutions to offer instruments linked to cryptocurrencies for qualified investors.
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