The Moscow Exchange (MOEX) has announced plans to introduce cash-settled futures contracts tied to Solana (SOL), XRP, and Tron (TRX), thus strengthening its existing crypto derivatives market. These new financial instruments will be based on specific indices for each asset and will be denominated in rubles, marking a milestone in the Russian regulated offering.
According to Maria Silkina, a senior manager at MOEX’s Derivatives Market Group, the implementation will begin with the publication of the indices that will serve as mandatory underlying assets under current regulations. These contracts do not involve physical delivery of the tokens; instead, they are settled financially, following the successful model that the entity already applies to Bitcoin and Ether.
Due to strict regulations from the Central Bank of Russia, access to these products is exclusively restricted to qualified investors who meet specific risk profiles. In this way, the exchange seeks to institutionalize the flow of capital toward digital assets, providing a robust infrastructure that mitigates the operational risks associated with direct management of private wallets.
What impact does Russian regulation have on retail market access?
On the other hand, the regulatory landscape in Russia continues to evolve with proposals seeking to limit retail digital asset purchases to approximately $4,000 per year (300,000 rubles). Although a gradual opening for non-qualified investors is planned for July 2026, current restrictions keep the crypto derivatives market as a mostly professional and highly supervised field.
Since international sanctions have affected the operations of various local players, the development of internal products in rubles allows national investors to maintain exposure to global volatility without relying on foreign platforms. Furthermore, MOEX is evaluating the introduction of perpetual futures for Bitcoin and Ether, a popular tool that lacks an expiration date and facilitates long-term hedging strategies.
The consolidation of these products on the country’s main exchange represents a significant step toward the integration of digital assets into the traditional Russian financial system. Therefore, the launch of SOL, XRP, and TRX futures is expected to attract considerable liquidity from local funds seeking to diversify their portfolios under a clear legal framework and sovereign settlement tools.
