The bank says it will soon list them on the Moscow Exchange to make them easier to buy and sell. These bonds pay out if Bitcoin rises in value, and they also give investors a bonus if the US dollar strengthens against the ruble. Investors deal in rubles, so there’s no need to own a crypto wallet or use foreign platforms.
If Bitcoin goes up, bondholders benefit. If the dollar goes up against the ruble, bondholders get a bit more too. It’s a double play on two markets, crypto and currency.
Based on reports, Russia still bans cryptocurrencies for everyday payments, but they’re allowed for cross-border deals. In early June, the Central Bank of Russia gave financial firms the green light to sell crypto-related investments to qualified investors.
The bank even launched a blockchain network that works with Ethereum. That network started limited testing in 2022 and opened to the public in early 2023. Now, they’re adding Bitcoin futures on June 4 through their SberInvestments platform. This comes just as the Moscow Exchange rolls out its own crypto-based trading tools.
BNY Mellon is putting money into blockchain to hold digital assets. In March, BlackRock created a tokenized fund on Ethereum and then added one on Solana. Sberbank’s bond ties into this trend, showing that major banks still see value in blending traditional finance with crypto tools.
Featured image from Worldkings, chart from TradingView
