Russia's largest bank launches bitcoin-linked structured bond

BlockBeats News, June 2nd, according to CoinDesk's report, Russia's largest bank — Sberbank has launched a new structured bond tied to the price of Bitcoin (BTC) and the USD to RUB exchange rate.

The bond was initially only open to a subset of eligible investors over-the-counter. Holders' returns will depend on two variables: the future performance of Bitcoin against the US dollar and the extent of the US dollar's appreciation against the Russian ruble.

Investors can participate without opening a cryptocurrency wallet or using overseas crypto exchanges, as all trades are conducted in rubles and settled through Russia's domestic "legal and infrastructure system."