The Moscow Exchange (MOEX) is preparing to expand its crypto derivatives lineup with cash-settled futures linked to Solana (SOL), XRP, and TRX, the exchange said.
The new contracts will be based on dedicated indices for each token and settled in rubles, with trading restricted to qualified investors. Maria Silkina, senior manager at MOEX’s Derivatives Market Group, said on RBC radio that the exchange will first roll out the indices, which will then serve as the underlying assets for the futures contracts.
Russian regulations require derivatives to reference an underlying asset, and in this case the published indices will fulfill that role.
MOEX already calculates indices for bitcoin and ether and offers monthly cash-settled futures tied to those benchmarks. The planned SOL, XRP, and TRX products will follow the same structure, with no physical delivery of cryptocurrency and settlement conducted entirely in rubles.
The exchange is also considering the launch of perpetual futures for bitcoin and ether, which would allow investors to hold positions without a fixed expiry date. Perpetual contracts are a standard feature on many global crypto trading platforms.
The expansion comes as Russia continues to adjust its crypto regulatory framework. Lawmakers last month proposed capping retail cryptocurrency purchases at $4,000, while the central bank has previously outlined a revised framework for crypto market participation.
At the same time, the sector remains under pressure from international sanctions linked to Russia’s war in Ukraine. In 2022, the United States sanctioned BitRiver, the country’s largest crypto mining company, and the firm has since warned of potential bankruptcy. Russian authorities have also designated crypto exchange WhiteBIT as “undesirable” over its support for Ukraine.
