Russia's Sberbank sells cryptocurrency derivative products worth 16 million dollars

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Sberbank, the largest bank in Russia, reported strong demand for cryptocurrency derivative products, with sales exceeding 1.3 billion rubles (16 million USD) from nine issuance.

The products include capital-protected bonds, bonds tracking the Bitcoin index (BTC), Ethereum (ETH), and digital assets based on a basket of tokens such as SOL, TRX, AVAX, BNB. Sberbank leaders stated that the bank will expand this portfolio, helping investors diversify and reduce risks when investing in cryptocurrencies. In addition, Sberbank is developing its own blockchain platform to tokenize real assets such as real estate, gold, and commodities, while also testing smart contracts for banking services. The bank is also collaborating with the Russian government to build a legal framework to legitimize and integrate stablecoins and cryptocurrencies into the economy, hoping to promote the convergence between traditional finance and DeFi.

BTC-3.79%
ETH-5.6%
SOL-11.71%
TRX-4.34%
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