Largest Russia Bank Launches Bitcoin Bonds
Russia’s largest commercial bank, Sber, has introduced a new bond product tied to Bitcoin that reflects both the cryptocurrency’s price changes and the dollar-to-ruble exchange rate.
The product is already accessible to qualified investors on the over-the-counter market, and Sber plans to list it on the Moscow Stock Exchange at a later date.
This listing aims to offer greater transparency, liquidity, and accessibility for a broader pool of accredited investors.
According to Sber, the structural bond allows holders to benefit from both the appreciation of Bitcoin in dollar terms and the strengthening of the dollar against the ruble.
All transactions are conducted in rubles under Russia’s regulatory framework, so investors don’t need to use crypto wallets or unregulated platforms.
Sber also announced that it will begin offering crypto-related exchange-traded products via its SberInvestments platform.
The first will be a Bitcoin futures product, expected to be listed on June 4 once the Moscow Exchange launches the asset.
This development follows a decision by Russia’s central bank to allow financial institutions to offer specific crypto financial products to accredited investors, though not cryptocurrencies directly.
On the same day, Moscow-based T-Bank (formerly Tinkoff Bank) launched its own Bitcoin-linked investment product, calling it a “smart asset,” issued through the government-backed tokenization platform Atomyze.
According to the central bank’s latest review, Russian residents currently hold approximately 827 billion rubles ($9.2 billion) in crypto on centralized exchanges.
Inflows to domestic crypto platforms rose by 51% in the first quarter of 2025, totaling 7.3 trillion rubles ($81.5 billion).
Bitcoin remains dominant, accounting for 62% of trading volume on Russian platforms, followed by Ethereum at 22%, and stablecoins like USDT and USDC.
Sources:
https://cointelegraph.com/news/russia-sber-launches-bitcoin-linked-bonds
https://cbr.ru/Collection/Collection/File/55878/4q_2024_1q_2025.pdf
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