Russia's largest bank launches structured bonds linked to Bitcoin.

On June 2, Sberbank, Russia's largest bank, launched a new structured bond that is pegged to the price of Bitcoin (BTC) and the exchange rate of the US dollar against the ruble, CoinDesk reported. The bond was initially only available to a subset of accredited investors through an over-the-counter approach. Holders' earnings will depend on two variables: the future performance of Bitcoin against the US dollar, and how much the US dollar appreciates against the ruble. Investors do not need to open a crypto wallet or use a foreign crypto exchange to participate, all transactions are carried out in rubles and processed through a "legal and infrastructure system" in Russia.