Sberbank preparing structured bonds with cryptocurrency-linked returns

MOSCOW. May 28 (Interfax) - Sberbank is developing structured bonds whose yields will be tied to cryptocurrency price movements, the bank's press service said.

"In the near future, we will present investors with a product that provides convenient and secure exposure to cryptocurrency assets - without direct ownership of cryptocurrencies, while fully complying with regulatory requirements on Russian infrastructure. Investment will be available through structured bonds with returns linked to cryptocurrency price dynamics," Sberbank Executive Board Deputy Chairman Anatoly Popov was quoted by the press service as saying.

Earlier on Wednesday, the Central Bank of Russia said that financial institutions may offer qualified investors derivative financial instruments, securities and digital financial assets with returns tied to cryptocurrency values. The key condition is that such instruments must not involve actual cryptocurrency delivery.

The Moscow Exchange reported plans to launch a cash-settled futures contract on its derivatives market this June, with the underlying asset pegged to Bitcoin's price. The SPB Exchange has also announced plans to introduce cryptocurrency-linked futures trading.