Sberbank, Russia’s largest bank, has introduced a new structured bond that tracks the price of bitcoin BTC and the dollar-to-ruble exchange rate.

Initially available over the counter to a limited pool of qualified investors, the bonds let holders earn based on two variables: the future performance of BTC in U.S. dollars and any strengthening of the dollar relative to the ruble.

Investors can access these instruments without opening a crypto wallet or using foreign crypto exchanges, with all transactions being processed in rubles within Russia’s “legal and infrastructure systems.”

The bank plans to list similar structured products with cryptocurrency exposure on the Moscow Exchange, according to a recent announcement.

Sberbank, per the announcement, is also launching a bitcoin futures product via its SberInvestments platform on June 4, aligning with the launch of the product on the Moscow Exchange.

The announcement comes just after the Bank of Russia said financial institutions in the country can offer cryptocurrency-linked instruments to qualified investors.

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