The structured Bitcoin-linked notes issued by Sberbank on May 30, 2025, are denominated in rubles and settle through Russia’s domestic clearing and depository systems.

Quotes that support claims

The notes, announced in a 30 May press release, are denominated in rubles and settle entirely inside the domestic clearing and depository infrastructure.

Because settlement is in rubles via Russia’s National Settlement Depository, investors remain within the local legal perimeter and avoid the custodial and tax complexities of holding spot Bitcoin abroad.”