The Moscow Exchange (MOEX), Russia”s premier securities platform, is gearing up to introduce cash-settled futures contracts linked to Ripple”s XRP, Solana (SOL), and Tron (TRX) within the next year. This initiative signifies a pivotal moment in the Russian financial landscape, as it may capture the attention of local billionaires and mirrors the escalating global appetite for these altcoins.
Initially, the exchange will launch indices for XRP, SOL, and TRX, which will form the basis for futures contracts settled in rubles. According to Maria Silkina, a senior manager in the Derivatives Market Group at MOEX, this development is part of a broader strategy to expand the exchange”s offerings in the realm of crypto derivatives, moving beyond just Bitcoin and Ethereum.
Silkina noted, “We”ll be expanding pairings throughout the year. And the top names that will definitely be among the first are probably Solana, Ripple, and Tron.” Under the current Russian regulatory framework, derivatives must be tied to an underlying asset, which in this case will be the newly published indices for each cryptocurrency.
The forthcoming products will adopt a structure akin to that of existing Bitcoin and Ether futures, featuring settlement in rubles and intended for qualified investors only. Furthermore, the MOEX is contemplating the introduction of perpetual futures for BTC and ETH in 2026, a move that aligns with the growing trend of such products across various global exchanges.
This strategic pivot comes as Russia appears to be moderating its approach to cryptocurrencies amidst ongoing geopolitical tensions. In December, the nation”s central bank unveiled a proposal to legalize and regulate cryptocurrency trading, catering to both qualified and non-qualified investors—a significant shift from its previous stance, which had considered an outright ban on digital assets.
Currently, cryptocurrencies are classified as property in Russia and are permitted for cross-border transactions. The rise in international payments since 2020 has been noteworthy, particularly in light of the economic sanctions imposed on the country following its invasion of Ukraine.
