Russia’s largest commercial bank, Sber, launched a Bitcoin-linked bond product that’s now trading on OTC markets and may soon be listed on the country’s top stock exchange.
Russia’s largest commercial bank, Sber has launched a Bitcoin-linked bond product that tracks the cryptocurrency’s change in price and the dollar-to-ruble exchange rate.
The product is already available to qualified investors in the over-the-counter market, and Sber plans to list the product on the Moscow Stock Exchange in the future, the company formerly known as Sberbank said in a statement on May 30.
The listing will ensure transparency, liquidity and convenience for a wide range of qualified investors, Sber added.
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